Market Overview for Gala/Tether (GALAUSDT) – 2025-09-18

• GALA/USDT opened at $0.01679 and reached a 24-hour high of $0.01822 before closing at $0.01789.
• The pair remained range-bound during early trading but surged past key resistance late in the session.
• Price action indicates a consolidation phase following a strong bullish breakout on high volume.
• RSI and MACD suggest momentum is still building, though divergence warnings have not yet emerged.
• Volatility expanded significantly, with Bollinger Bands widening as the price pushed higher.

At 12:00 ET on 2025-09-18, Gala/Tether (GALAUSDT) opened at $0.01679 and closed at $0.01789 after reaching a high of $0.01822 and a low of $0.01668. Over the 24-hour period, the total volume was 94,453,587.0 and the total notional turnover amounted to approximately $1,582,200 (assuming a 1 USDT = $1 conversion). The price showed clear signs of volatility and a bullish breakout on high volume.

Structure & Formations

The price action over the last 24 hours showed a notable bullish breakout from a consolidation range, particularly after the 17:45 ET candle. A strong engulfing pattern emerged between 19:30 and 20:15 ET, confirming the upward move. A key resistance at $0.0179–$0.0180 was tested and then broken, with the price showing a clear preference for closing above key levels. A minor support at $0.01767 was briefly challenged but held firm during early morning trading.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both turned bullish after 17:45 ET, confirming the upward bias. The 50-period MA provided support around $0.01768, while the 20-period MA crossed above it in a golden cross formation. For the daily chart, a 50-day MA (projected based on trend) likely acted as a baseline, while the 200-day MA would have served as a long-term support area that appears to be holding.

MACD & RSI

The MACD turned positive sharply after 18:00 ET and remained above the signal line for the rest of the session, indicating strong upward momentum. The histogram grew wider between 19:45 and 20:30 ET, confirming the strength of the move. The RSI reached 62–66 during the breakout, suggesting the pair is in overbought territory but has not yet shown signs of topping out. A pullback to RSI levels around 50 may indicate a potential consolidation phase.

Bollinger Bands

Volatility increased significantly as the price pushed past key resistance levels. The Bollinger Bands expanded, especially between 19:45 and 20:30 ET, with the price often trading near the upper band. This indicates high volatility and a potential continuation of the bullish trend. A reversal could occur if the price closes below the lower band, but for now, the trend appears intact and supported by volume.

Volume & Turnover

Volume spiked dramatically during the breakout phase, particularly between 17:45 and 20:15 ET, confirming the strength of the bullish move. Notional turnover also increased in line with the price surge, showing no significant divergence between price and volume. The final push to the $0.01822 high was accompanied by a volume spike of 20.8 million units, indicating strong participation from traders.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from $0.01668 to $0.01822, the 38.2% level sits around $0.01719 and was tested but rejected during early morning trading. The 61.8% level is at $0.01747 and acted as a minor support. The current price is above both levels and is approaching the 78.6% retracement at $0.01808, which could serve as the next key resistance.

Backtest Hypothesis

Given the strong bullish breakout on high volume and the MACD divergence that is yet to form, a backtesting strategy could focus on entering long positions on a close above the 61.8% Fibonacci retracement level at $0.01747, with a stop loss below the 50-period moving average. A target could be placed at the 78.6% level and extended to the next key resistance beyond $0.01822. This approach would aim to capture momentum while managing risk with clear exit levels.