Gravity/Tether Market Overview: GUSDT

• Gravity/Tether (GUSDT) traded in a 24-hour range of $0.00961–$0.01006, with bearish bias in the second half of the day.
• Momentum dipped as RSI approached oversold territory, while volume surged during key retracements.
• Price found support near $0.00968–$0.00972, aligning with 61.8% Fibonacci levels and key Bollinger Band interactions.
• MACD turned neutral in the final hours, suggesting potential consolidation or reversal ahead.

Gravity/Tether (GUSDT) opened at $0.00986 at 12:00 ET-1 and closed at $0.00969 by 12:00 ET on 2025-10-09, with a high of $0.01006 and a low of $0.00961. Total volume over the 24-hour window reached 42,822,020, while notional turnover summed to approximately $418,452. A bearish drift in the latter half of the session and a failed test of prior resistance levels indicate short-term bearish momentum.

The structure of the price action shows a strong bearish continuation following a failed breakout above $0.01001. A descending triangle formation was evident from $0.01006 to $0.00968, with the 20-period MA on the 15-min chart intersecting the 50-period MA to form a bearish crossover. Key support levels were identified around $0.00968–$0.00972, where price found repeated buying interest, while resistance remains at $0.00988–$0.00993. A large bearish engulfing candle formed at $0.00998–$0.00994 at 17:30 ET, marking a pivotal shift in sentiment.

Volatility expanded as price dropped below the lower Bollinger Band near $0.00968, signaling an overextended bearish move. The RSI dipped below 30 by the close, hinting at potential oversold conditions, while MACD crossed into the negative territory in the final 6 hours, showing waning momentum. Volume surged during retracements near key Fibonacci levels (61.8% at $0.00972, 38.2% at $0.00983), suggesting accumulation from short-term traders. This divergence between price and volume suggests potential for a reversal.

A potential reversal could occur if price stabilizes above $0.00972, with a short-term target toward $0.00982 and a risk of a breakdown below $0.00965 in the event of renewed selling pressure. Investors should monitor the 50-period MA on the daily chart and the 200-period MA as key inflection points over the next 24 hours.

Backtest Hypothesis
A backtesting strategy could capitalize on the bearish reversal signal seen in the 17:30 ET bearish engulfing candle and the subsequent bearish momentum. A potential strategy would involve entering a short position with a stop above $0.01004 (the high of the engulfing candle) and targeting $0.00968–$0.00972 as initial support and potential reversal zones. Given the divergence in volume during retracements and the RSI approaching oversold levels, a long position could be considered if price bounces above the 20-period MA and breaks through the $0.00982 resistance. This approach aligns with the identified Fibonacci retracement levels and Bollinger Band expansion, providing clear risk-reward parameters. The 15-minute chart’s MACD and RSI could serve as entry and exit triggers for both short-term and medium-term positions.