Summary
• Price closed near a 24-hour low, indicating bearish pressure.
• Volatility expanded in the afternoon, with volume increasing notably.
• RSI suggests potential oversold conditions, hinting at a short-term bounce.
Gravity/Tether (GUSDT) opened at 0.00681 on 2025-11-10 at 12:00 ET and closed at 0.00676 by 12:00 ET on 2025-11-11. The price fluctuated between a high of 0.00688 and a low of 0.00664 during the 24-hour period. Total traded volume amounted to 65,404,410.0 units, with a turnover of $451,204.19, suggesting moderate to active trading interest.
Structure & Formations
The price action on the 15-minute chart displayed a series of lower highs and lower lows, signaling a bearish bias. A notable doji formed around 0.00675 on the 22:45 candle, indicating indecision at that level. A bearish engulfing pattern emerged between 0.00681 and 0.00676, reinforcing the downward
. Key support appears to be forming around 0.00670–0.00672, with resistance at 0.00680–0.00683.
Moving Averages
The 20-period and 50-period moving averages on the 15-minute chart are both in bearish alignment, with the price trading below both. The 50-period MA at 0.00679 acts as a dynamic resistance level. The daily 50/100/200 MA structure remains bearish, with the 200-day MA at 0.00677 offering a baseline for potential short-term support.
MACD & RSI
The MACD histogram is in negative territory, with the MACD line crossing below the signal line, confirming bearish momentum. The RSI stands at 28 as of 12:00 ET, indicating oversold conditions, although the bearish bias persists. The RSI has not shown signs of divergence from the price action, suggesting the downtrend is still intact.
Bollinger Bands
Price action has been fluctuating between the upper and lower Bollinger bands, indicating increased volatility. The bands have widened significantly in the past 24 hours, signaling heightened uncertainty in the market. The price closed near the lower band, suggesting that further downside could be capped in the near term, unless the trend continues.
Volume & Turnover
Volume increased significantly in the afternoon and evening, with the 21:15–22:45 ET window seeing the highest volume of the session. Notional turnover spiked during this period as well, confirming the bearish breakdown. A divergence between volume and price has not yet emerged, indicating that the current momentum is likely supported by actual trading interest.
Fibonacci Retracements
On the 15-minute chart, the price has found support at the 61.8% retracement level of the recent 0.00688–0.00664 swing. This level sits around 0.00674–0.00675. A break below this level could target the 78.6% retracement at ~0.00670. Daily Fibonacci levels suggest a key support zone at 0.00675–0.00677 and resistance at 0.00680–0.00683.
Backtest Hypothesis
The backtesting strategy aims to capitalize on short-term overbought/oversold RSI conditions with a mean-reversion bias. However, the current analysis shows the RSI in oversold territory without clear reversal signs, which could lead to false positives if the trend persists. The lack of price/volume divergence increases the likelihood of a continuation rather than a reversal, suggesting the strategy may need additional filters such as MA alignment or Bollinger Band positioning to improve accuracy.
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