Gravity/Tether Market Overview

• Price rose from 0.0068 to 0.0069 with strong volume in late session.
• RSI near neutral, indicating potential for further upside.
• Bollinger Bands show moderate volatility with price near upper band.

Gravity/Tether (GUSDT) opened at 0.0068 on 2025-11-08 at 12:00 ET, reaching a high of 0.0069 and a low of 0.00671 before closing at 0.00681 at 12:00 ET-1. Total 24-hour volume was 24,193,600, with turnover exceeding 68,000 contracts. The pair appears to be consolidating after a late-session rally.

The 15-minute OHLCV data reveals a gradual push from 0.00681 to 0.0069, with several bullish candle formations. A key support level appears to be forming around 0.00684–0.00683, while the high of 0.00690 may represent a temporary resistance. A potential bullish engulfing pattern was noted near 19:15–19:30 ET, which may signal a short-term reversal. The price action suggests buyers are showing resilience, especially in the afternoon and evening hours.

RSI oscillated between 45 and 55 during the session, indicating balanced momentum with no immediate signs of overbought or oversold conditions. MACD remained flat, but showed a slight bullish crossover in the late afternoon, which may indicate renewed buying interest. Bollinger Bands widened during the midday dip but started to contract again as the price pushed higher in the late hours.

Volume spiked notably during the late afternoon and evening, particularly between 19:00–21:00 ET, coinciding with the price rebound. Notional turnover also increased during that period, supporting the price action. A divergence appears between morning volume and price, with lower volume during the dip but strong volume during the rally. This suggests buyers are stepping in with conviction. Fibonacci retracements suggest 0.00683–0.00684 is a key 38.2% retracement level, and 0.00690 is near the 61.8% level, which could offer near-term resistance.

The rally in Gravity/Tether appears to be driven by late-session buying, and if bullish momentum continues, the price may test the 0.00690–0.00692 range in the next 24 hours. However, traders should be cautious of a potential pullback to test the 0.00684–0.00683 support cluster, especially if volume fails to confirm a breakout.

Backtest Hypothesis
The proposed backtesting strategy seeks to identify and act on bullish engulfing patterns in GUSDT using a 5-day holding period. To execute this, it is essential to confirm the correct ticker symbol for the pair on the data source. For example, if the data is pulled from Binance, the correct symbol might be “GUSDT/USDT” or “GUSD-USDT.” If it's from Coinbase, it may be “GUSD-USD” or another variation. Once the symbol is verified, the strategy can be backtested using daily or 15-minute data from 2022-01-01 to 2025-11-09, measuring returns and risk-adjusted performance. This would help validate the viability of using such candlestick patterns in a live trading environment.