Market Overview: Gala/Tether (GALAUSDT) on 2025-09-20

• GALA/USDT edged higher overnight, forming a bullish reversal pattern near 0.01700.
• Volatility expanded sharply during the early morning UTC, with volume spiking at key support.
• RSI oversold conditions were evident during the selloff, now showing signs of upward momentum.
• Price closed above key Fibonacci retracement levels, suggesting potential for a 0.01770 test.
• Bollinger Bands widened after the breakdown, indicating increased market uncertainty and potential for continuation.

24-Hour Snapshot

Gala/Tether (GALAUSDT) opened at 0.01752 on 2025-09-19 at 12:00 ET, reaching a high of 0.01782 and a low of 0.01697 before closing at 0.01764 on 2025-09-20 at 12:00 ET. Total volume amounted to 180,940,601.0 USDT, with notional turnover reaching ~3,202.93 USD over the 24-hour period.

Structure & Formations

A bearish breakdown from 0.01752 to 0.01697 was followed by a sharp rebound, forming a potential bullish reversal pattern near 0.01700. Key support was identified at 0.01700 and 0.01697, while resistance levels emerged at 0.01750 and 0.01770. A doji-like formation appeared near 0.01701, suggesting indecision before a strong rebound.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed near 0.01735–0.01740, indicating a potential bullish crossover after a prolonged bearish phase. Daily moving averages (50/100/200) remain bearish, with price still below 100 and 200 SMA levels.

MACD & RSI

The MACD turned positive during the morning UTC rebound, crossing above zero with bullish divergence. RSI bottomed at 27 during the selloff and rose to 52 by close, showing moderate momentum. However, overbought conditions are not yet reached.

Bollinger Bands

Price initially broke below the lower Bollinger Band at 0.01697 but quickly rebounded into the channel. A volatility expansion occurred during the early morning, with bands widening to 0.00036 range. Current price sits near the middle band, indicating consolidation ahead of potential direction.

Volume & Turnover

Volume surged during the 0.01697 low, with a single candle reaching 19,022,677.0 USDT, compared to an average of ~5M USDT per 15-minute interval. Turnover spiked during the rebound, confirming strength in the bounce. No significant divergence between price and volume was observed.

Fibonacci Retracements

A 38.2% retracement level of the 0.01697–0.01782 swing was reached near 0.01738 and held as support. A 61.8% level at 0.01767 was recently tested and confirmed as resistance. Price appears to be forming a potential base at 0.01740–0.01750, with a 0.01770 target in view.

Backtest Hypothesis

The described backtesting strategy focuses on capturing bullish reversals using RSI divergence and Fibonacci retracements. A long entry could be triggered on a close above 0.01755, with a stop below 0.01735 and a target at 0.01770. The recent formation near 0.01700 aligns with this strategy, suggesting a valid setup if price maintains above 0.01735.

Outlook and Risk

The market may continue testing the 0.01750–0.01770 range, with a potential break above 0.01775 signaling a return of bullish momentum. However, a close below 0.01735 could trigger renewed bearish pressure and a test of the 0.01700 level. Investors should remain cautious of potential volatility and divergences.