Market Overview for Aavegotchi/Tether (GHSTUSDT): 2025-10-29 24-Hour Summary

• Price dropped from 0.326 to 0.31 in early hours, then consolidated above 0.31 after midday.
• High volume during the dip (75k+ at 20:30 ET) and later consolidation.
• RSI and MACD suggested bearish momentum before the rebound.
• Bollinger Bands showed expansion during the selloff, with price near the lower band.
• Key support appears near 0.31, with resistance near 0.314–0.316.

Aavegotchi/Tether (GHSTUSDT) opened at 0.322 on October 28, 12:00 ET, and closed at 0.31 on October 29, 12:00 ET, with a high of 0.326 and a low of 0.308. Total volume traded over the 24-hour period was 589,609.0 and notional turnover reached $184,341.86. The asset displayed volatile price action, including a sharp decline midday followed by consolidation in the afternoon.

Structure & Formations

Price initially traded in a tight range but broke lower after a large bearish candle at 20:30 ET (volume: 75,579.4) confirmed bearish sentiment. A key support level was tested at 0.31, where the price found a floor. A bearish engulfing pattern formed around 19:30–20:00 ET, followed by a retracement and a consolidation phase after 01:00 ET. A doji formed near 0.313 in the early hours of October 29, indicating indecision and possible reversal. Resistance appears near 0.314–0.316, with previous rejections suggesting a potential ceiling.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA20) fell below the 50-period (SMA50), suggesting short-term bearish momentum. By the end of the period, the 20SMA approached the 0.314 level, aligning with the recent resistance zone. On the daily chart, the 50DMA (SMA50) was below the 200DMA (SMA200), indicating a bearish bias in the longer term.

MACD & RSI

The MACD histogram showed bearish divergence in early trading, with the line falling below zero. Momentum improved slightly in the afternoon as the histogram stabilized. RSI dropped below 30 during the selloff, indicating oversold conditions, but failed to hold above 30 in subsequent sessions, suggesting weak recovery. A potential rebound could gain steam if RSI crosses above 40 and MACD turns positive.

Bollinger Bands

Volatility expanded significantly during the midday selloff, with the bands widening as price fell below the lower band. By the afternoon, price hovered near the lower band, still within the expanded range, suggesting that volatility may contract in the near term. A close above the upper band in the next 24 hours could signal a short-term reversal or a break in the bearish momentum.

Volume & Turnover

Volume spiked during the midday breakdown (75k+), confirming bearish pressure. Turnover also increased in the afternoon as consolidation set in. Price and volume appear aligned during the dip, with no significant divergence. However, the afternoon’s consolidation saw moderate volume and turnover, indicating a mixed sentiment. If volume rises again during a rebound, it could suggest a stronger move.

Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level of the midday selloff sat around 0.313–0.314, which was tested twice without a strong break. The 38.2% retracement (~0.316) may act as a potential resistance in the next 24 hours. On the daily chart, the 50% retracement of the recent swing (~0.317) could also be a target for near-term buyers.

Backtest Hypothesis

Given the bearish engulfing pattern observed during the selloff and the RSI’s oversold condition, a backtest of a short-selling strategy based on the Bearish Engulfing candlestick pattern would be relevant. Testing this strategy on GHSTUSDT from 2022-01-01 to 2025-10-29 could validate how effective such signals have historically been in predicting further declines. Performance metrics would include annualized return, Sharpe ratio, and drawdowns. This approach would help assess whether the pattern could serve as a reliable sell trigger in the context of this asset's volatility profile.