Gravity/Tether Market Overview (GUSDT)

• Price surged 0.46% in 24 hours, closing at 0.0115 from an open of 0.011
• Volatility rose with a 15-minute high of 0.01162, and a low of 0.01093
• Strong volume seen post-ET 15:00 as price consolidated near key resistance
• RSI reached overbought territory late morning, indicating potential exhaustion
• Bollinger Bands widened significantly, signaling increased market uncertainty

Gravity/Tether (GUSDT) opened at 0.011 at 12:00 ET–1 and closed at 0.0115 at 12:00 ET, reaching a high of 0.01162 and a low of 0.01093. The 24-hour volume was 81,205,184.0, while the notional turnover amounted to 901,046.20. This marks a period of rising price action and volatility.

Structure & Formations

The price formed a bullish flag pattern between 0.0110 and 0.0115, followed by a breakout above the 0.0115 resistance level. A notable 15-minute engulfing candle at 17:45 ET confirmed the upward shift in momentum. Key support levels appear to form at 0.0110 and 0.01095, with resistance at 0.0115–0.0116. A bearish doji at 02:15 ET on the 24-hour chart suggests a short-term pullback.

Moving Averages

On the 15-minute chart, the 20-period moving average has crossed above the 50-period line, signaling a short-term bullish bias. On the daily timeframe, the 50 and 100-period lines are converging at 0.0113, with the 200-period SMA acting as a long-term baseline. Price remains above all three, maintaining a bullish alignment.

MACD & RSI

The MACD turned positive mid-day and remained in bullish territory, with a strong histogram expansion around 17:00–19:00 ET. RSI hit a peak of 78 late morning, entering overbought territory and indicating potential for a retracement. However, strong volume during this period supports the continuation of bullish momentum, at least in the short term.

Bollinger Bands

Volatility expanded significantly, with the bands reaching a width of 0.0006 (from 0.0111 to 0.0117). Price action remained within the upper band for much of the session, especially after 17:00 ET. A contraction in band width is yet to occur, suggesting that volatility remains elevated and could continue into the next session.

Volume & Turnover

Volume spiked sharply between 17:00 and 20:00 ET, with a total of over 12 million contracts traded in that window. Notional turnover also saw a 40% increase during this time, aligning with price direction. A divergence appears to form around 02:00–04:00 ET when volume declined despite a continued price push—suggesting possible exhaustion or a consolidation phase.

Fibonacci Retracements

Applying a 38.2% and 61.8% retracement to the 0.01093–0.01162 swing, critical levels of 0.01131 and 0.01152 are currently being tested. Price has bounced off the 61.8% level twice, which could indicate it as a potential intermediate resistance or consolidation zone.

Backtest Hypothesis

Given the observed bullish flag pattern and the alignment of moving averages, a backtesting strategy could be designed to enter long at the breakout of the 0.0115 resistance with a stop-loss below 0.0113 and a target at 0.0117. RSI divergence and volume confirmation during the breakout phase could serve as filters. This strategy would aim to capture the short-term continuation of the uptrend observed in the last 24 hours, aligning with the current technical setup.