Summary
• Price rallied from 0.00623 to 0.00675, closing at 0.00673 amid strong volume and
.
• RSI hit overbought territory, suggesting potential near-term pullback.
• Volume surged 3x during the final 3 hours, indicating significant market activity.
Gravity/Tether (GUSDT) opened at 0.00627 on 2025-11-06 at 12:00 ET and closed at 0.00673 the following day at 12:00 ET, reaching a high of 0.00675 and a low of 0.00623. The 24-hour volume totaled 66,143,488 and the notional turnover reached 444.60. The pair has shown strong accumulation and a bullish breakout during the late New York trading session.
Structure & Formations
Price formation over the 24-hour period displayed a clear bullish bias, with a low at 0.00623 serving as a key support level. A series of higher lows and higher highs emerged after 19:00 ET, with a final strong push above 0.00675. Several small bullish engulfing patterns were visible in the last 3 hours, reinforcing the upward trend. A doji appeared around 0.00642, signaling a momentary consolidation.
Moving Averages
The 15-minute chart showed price consistently above both the 20-EMA and 50-EMA, with a steepening angle in the last 4 hours. On the daily chart, GUSDT is above the 50-SMA, indicating medium-term strength, though the 200-SMA remains a critical long-term support at ~0.00630.
MACD & RSI
The MACD crossed above the signal line late in the session, with a bullish histogram suggesting building momentum. RSI reached 72 during the final 2 hours, entering overbought territory, which may indicate a short-term retracement is likely.
Bollinger Bands
Volatility expanded significantly in the last 4 hours, with price closing near the upper band at 0.00675. The bands had narrowed earlier in the day, indicating a potential breakout phase began after 19:00 ET.
Volume & Turnover
Volume surged to over 3.9 million at 16:30 and 16:45 ET, coinciding with the price breaking above 0.00672. Notional turnover increased by ~40% during this window, confirming the breakout. No significant divergence between price and volume was observed, supporting the integrity of the bullish trend.
Fibonacci Retracements
Key Fibonacci levels from the 0.00623 to 0.00675 swing include 0.00645 (38.2%), 0.00657 (61.8%), and 0.00668 (78.6%). Price is currently above 61.8%, suggesting a test of 78.6% or even an extension could be in play if the trend continues.
Backtest Hypothesis
The backtest strategy focuses on identifying Bullish Engulfing patterns as entry signals. In this 24-hour window, multiple small engulfing patterns were visible in the final 3 hours, particularly at 0.00635–0.00640 and 0.00651–0.00653. These could serve as test cases for a short-term long bias. For a future backtest, we may consider testing a 3-day holding strategy using such signals, paired with a stop-loss at 0.00660 and a target at 0.00680.
Looking ahead, the pair appears poised for further strength if volume remains elevated and RSI does not retreat into neutral territory. A breakdown below 0.00665 could trigger a test of key support levels, however, suggesting caution is warranted.
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