Market Overview: Gala/Tether (GALAUSDT) on 2025-09-15

• Gala/Tether (GALAUSDT) rose from $0.01736 to $0.01787 before consolidating into a pullback, suggesting mixed momentum.
• Volume surged in early trading, with a notable divergence in price and turnover after 22:00 ET.
• RSI hit overbought levels briefly, while Bollinger Bands signaled high volatility, now narrowing.
• A bullish engulfing pattern emerged midday, but a bearish reversal followed in late session.
• Key support appears at $0.01745, while resistance is forming around $0.01775–0.01781.

The 24-hour trading session for Gala/Tether (GALAUSDT) opened at $0.01736 (12:00 ET–1) and reached a high of $0.01787 by 06:00 ET. Price closed at $0.01763 by 12:00 ET, with a low of $0.01728. Total volume amounted to 99,965,923.0 and total notional turnover was $1.75 million, highlighting increased market activity and potential accumulation.

Structure & Formations

Price formed a bullish engulfing pattern around 16:30–18:00 ET, signaling a short-term reversal from downward pressure. However, a bearish harami pattern appeared in the late session between 06:30–06:45 ET, suggesting potential exhaustion in the bullish momentum. Key support levels identified were $0.01745 and $0.01737, with resistance at $0.01765 and $0.01777. A consolidation phase is evident, with price likely to test these levels in the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover around 19:00 ET, reinforcing the earlier bullish engulfing pattern. However, the 50-period MA has since crossed back below the 20-period MA, signaling a potential near-term correction. On the daily chart, the 50-period MA is above the 100-period MA, indicating a longer-term uptrend, though a test of the 200-period MA may be imminent.

MACD & RSI

MACD crossed into positive territory in early morning hours, aligning with the bullish move. However, it has since declined, suggesting weakening momentum. RSI peaked near overbought levels at 61.5, followed by a pullback into neutral territory. While RSI remains above 50, it appears to be losing upward drive, and a close below 50 could signal a bearish bias.

Backtest Hypothesis

The proposed backtesting strategy relies on a combination of the 15-minute MA crossovers and RSI divergence to identify entry and exit points. Specifically, long positions would be triggered on a bullish 20/50 MA crossover and RSI rising above 50, with stop-loss placed below the most recent swing low. Short positions would be triggered on a bearish 20/50 MA cross and RSI falling below 50. Given the recent price behavior—particularly the bearish harami and weakening MACD—this strategy would have exited long positions and initiated a short near 06:30 ET, which aligns with actual price movement.

Bollinger Bands & Fibonacci Retracements

Bollinger Bands showed a significant expansion during the peak bullish phase and have now started to contract, indicating potential range-bound trading ahead. The upper band reached $0.01787, while the lower band hit $0.01728. Price currently rests near the 61.8% Fibonacci level of the recent bullish move, suggesting a possible pullback to the 38.2% level at $0.01756. Traders should watch for a break above the upper band or a drop below the 61.8% level for directional clues.

Volume & Turnover

Volume spiked during the early bullish phase, with over 37 million tokens traded in one 15-minute window. However, volume has since decreased, suggesting reduced conviction in the current move. Turnover also spiked in the morning before tapering off, with a divergence visible in the late session. This divergence may indicate a possible reversal or consolidation ahead. A new volume surge below the 61.8% Fib level could confirm bearish bias.

The 24-hour session has shown a volatile but mixed outcome, with a strong move up followed by a consolidation and pullback. While the longer-term trend appears intact, near-term uncertainty remains. Investors should watch for a break of the $0.01745 support or a retest of $0.01775 resistance. As with all crypto assets, price may react sharply to external news or broader market sentiment shifts, so risk management remains key for the next 24 hours.