Market Overview: Gala/Tether (GALAUSDT) on 2026-01-07

Summary
• GALAUSDT traded in a tight range with key resistance at 0.0075 and support at 0.0073.
• Momentum shifted midday as RSI approached oversold and then overbought levels.
• High volume surges coincided with price bounces off key levels, suggesting strong participation.
• Bollinger Bands narrowed overnight, hinting at potential volatility expansion.
• A bullish engulfing pattern formed during the 5-minute chart at 09:00 ET.

Gala/Tether (GALAUSDT) opened at 0.00743 on 2026-01-06 12:00 ET, reached a high of 0.00768, a low of 0.00722, and closed at 0.00745 on 2026-01-07 12:00 ET. Total volume for the 24-hour period was 252,544,039.0, while notional turnover amounted to 1,869,335.42 USD.

Structure & Formations

The 5-minute chart showed a tight trading range between 0.00722 and 0.00768, with key resistance forming at 0.0075 and support at 0.0073. A bullish engulfing pattern emerged at 09:00 ET, signaling potential short-term reversal. A bearish doji appeared near the session high, hinting at indecision.

MACD & RSI

The 5-minute MACD crossed into positive territory during the early morning hours, suggesting increasing bullish momentum. RSI moved into oversold territory early in the session, then surged into overbought levels by late morning before retreating, indicating a volatile tug-of-war between buyers and sellers.

Bollinger Bands

Bollinger Bands showed a clear narrowing during the overnight hours, followed by a gradual expansion as the price drifted toward the upper band. This contraction and expansion suggests a period of consolidation followed by a breakout attempt.

Volume & Turnover

Volume spiked significantly at key reversal points, such as the bullish engulfing candle and the bearish doji. Turnover also spiked in sync with these price movements, indicating strong conviction in both directions. However, divergence emerged in the late afternoon as volume weakened despite a price rebound.

Fibonacci Retracements

On the 5-minute chart, a swing from 0.00722 to 0.00768 saw the price consolidate near the 61.8% and 38.2% retracement levels. On the daily chart, the recent pullback suggests a potential test of the 38.2% level before any further directional move.

In the next 24 hours, GALAUSDT may test the 0.0075 resistance level if buyers regain control. However, given the recent divergence and mixed momentum signals, caution is warranted. Investors should watch for a break below 0.0073 as a possible bearish trigger.