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

• GALAUSDT surged 1.3% over 24 hours, driven by a bullish breakout above 0.01780.
• Bullish momentum intensified midday ET, with volume spiking to 100 million contracts.
• RSI reached overbought levels (70–75), suggesting possible near-term profit-taking.
• Bollinger Bands widened, indicating rising volatility and potential continuation.
• Price consolidated below 0.01795, with a key support zone forming at 0.01775–0.01780.

Gala/Tether (GALAUSDT) opened at 0.01679 on 2025-09-17 at 12:00 ET and surged to a 24-hour high of 0.01824 before closing at 0.01821 as of 16:00 ET on 2025-09-18. The total traded volume reached 671,643,150.0 contracts, with a notional turnover of $10,920,947.00, showing strong buying interest.

Structure and formations over the 15-minute chart indicate a strong bullish bias. A key support level emerged around 0.01775–0.01780, tested twice during the session and held on both occasions. A bullish engulfing pattern formed at 0.01796 (12:30 ET), confirming a reversal from a minor pullback. A doji near 0.01802 at 03:15 ET signaled a potential pause in momentum, but buyers reasserted control shortly after. Resistance appears to be building at 0.01815–0.01820, where the price has tested multiple times.

On the 15-minute chart, the 20-period and 50-period moving averages were in an ascending alignment, indicating strong bullish momentum. Price traded consistently above both lines for much of the day, with a brief cross below the 50-period line at 01:30 ET not leading to a sustained breakdown, reinforcing strength. On the daily chart, the 50- and 100-period moving averages are converging at 0.01775–0.01780, a key support zone that aligns with the 15-minute consolidation level. The 200-period line sits at 0.01765, currently acting as a psychological floor.

The MACD line crossed above the signal line at 18:00 ET on 2025-09-17, confirming a bullish momentum shift. It remained in positive territory for most of the session, peaking at 0.00012. The RSI reached overbought levels (70–75) during the 19:00–20:00 ET window, suggesting potential short-term profit-taking. However, the price remained above the 0.01790–0.01795 range throughout the day, indicating strong demand. Bollinger Bands expanded significantly during the breakout above 0.01790, with price staying close to the upper band for over five hours, signaling high volatility and potential continuation.

Volume surged to 100 million contracts during the 19:30–20:30 ET window, coinciding with the breakout from a 15-minute consolidation pattern. Notional turnover mirrored this trend, reaching a peak of $1.8 million at 20:15 ET. Price and turnover moved in tandem during this phase, confirming the bullish move. A divergence occurred briefly at 04:00–05:00 ET, where volume declined while price continued to rise, but this was short-lived and did not lead to a breakdown. Overall, the volume profile supports a continuation of the current uptrend.

Applying Fibonacci retracements to the 15-minute swing from 0.01775 (19:30 ET) to 0.01824 (15:45 ET), the 38.2% level at 0.01797 and 61.8% level at 0.01809 were both tested and held, suggesting continued bullish intent. On the daily chart, Fibonacci levels from the recent low at 0.01675 (12:00 ET) to the high at 0.01824 (15:45 ET) align with key 15-minute support/resistance levels. The 61.8% level at 0.01786 was the first major pullback target, which held on multiple occasions during the day.

Backtest Hypothesis: A potential strategy could involve entering long positions at the 38.2% Fibonacci retracement (0.01797) after confirmation via a bullish candlestick pattern (e.g., a hammer or a bullish engulfing pattern). Exit signals could be generated using a stop-loss at the next Fibonacci level (0.01786) or using the RSI reaching overbought levels (70+). A trailing stop could be added once the price crosses the 0.01805 level, aligning with the upper Bollinger Band. This approach would leverage the observed volatility and momentum while managing risk through clear technical levels.