GNOUSDT Breaks Out — But Volume Fades at the Close

Summary
• Price formed a bullish engulfing pattern at 114.90-115.04 as volume surged.
• RSI hit 64 in the final 2 hours, suggesting potential overbought conditions.
• Volatility increased with a 1.5% range (112.13–119.22), but volume remains mixed.
• Bollinger Bands expanded late in the session, indicating renewed price action.

At 12:00 ET-1, Gnosis/Tether (GNOUSDT) opened at 112.88, hit a high of 119.22, a low of 112.13, and closed at 116.88. Total volume was 1,149.11 GNO, and notional turnover was $135,054.72 over 24 hours.

Structure & Key Levels

Price formed a bullish engulfing pattern at 114.90-115.04, confirming a potential reversal. A strong 5-minute candle at 115.7–115.7 validated the move higher. Key support levels at 114.53 and 113.39 appear intact, with resistance near 115.95 and 116.65 showing repeated rejection.

Momentum and Indicators

MACD crossed into positive territory late in the session, suggesting a short-term bullish bias. RSI reached 64 near the close, pointing to potential overbought conditions. The 50-period SMA on the 5-minute chart crossed above the 20-period line, reinforcing upward momentum.

Volatility and Bollinger Bands

Volatility increased as the 20-period Bollinger Bands expanded, with price reaching the upper band at 119.22. This suggests a high-volatility phase, with price action likely to remain dynamic.

Volume and Turnover

Volume increased significantly during the 09:15–10:45 ET period, with turnover matching price advances. However, volume dipped during the final 3-hour session, suggesting caution among traders.

Fibonacci Retracements

The 5-minute chart showed a 38.2% retracement at 114.88 and 61.8% at 116.63, both levels coinciding with key price action. Daily retracement levels at 113.4 and 117.4 may provide near-term structure.

Gnosis appears to be consolidating gains above the 115.00 level with strong short-term momentum. If buyers hold above 114.53, a test of 117.4 could follow, but a break below 113.90 may trigger renewed bearish pressure. Investors should remain cautious of potential divergence between price and volume in the next 24 hours.