Market Overview for Gala/Tether (GALAUSDT) – 24-Hour Analysis (2025-10-05)

• GALA/USDT closed 0.26% higher at 0.0161, with intraday volatility tightening after a sharp post-12:00 ET rebound.
• Price action formed bullish engulfing patterns in early morning ET, suggesting short-term buying momentum.
• Volume surged in late ET morning and early afternoon, confirming higher prices but showing divergence in turnover by afternoon.
• RSI reached overbought territory near 70, while MACD crossed into positive territory with a narrowing histogram.
• Key support held at 0.01583–0.01587, with resistance forming at 0.01618–0.01624 on 15-minute chart.

Gala/Tether (GALAUSDT) opened at 0.01555 on October 4 at 12:00 ET, reaching a high of 0.01651 and a low of 0.01555 before closing at 0.01610 as of 12:00 ET on October 5. Total trading volume over 24 hours was 258,170,268.00, with notional turnover at approximately $4,130,000.

Structure & Formations

The 15-minute chart displayed a bullish bias with a cluster of engulfing patterns and limited bearish rejection. Notable support levels were identified at 0.01583–0.01587, while key resistance emerged at 0.01618–0.01624. A long-bodied bullish candle at 06:45–07:00 ET confirmed a breakout above 0.01625. A doji at 02:00–02:15 ET suggested indecision but was followed by a sharp recovery, reinforcing the bullish narrative.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover, with prices above both. The 50-period MA appeared to act as dynamic support during pullbacks. On the daily chart, the 50/100/200 MA lines remained in a bullish alignment, with price holding above the 200 MA since late September, suggesting longer-term strength.

MACD & RSI

The MACD crossed into positive territory with a narrowing histogram, indicating a slowdown in bullish momentum but continued directional strength. RSI reached 70 at 03:15–03:30 ET, signaling overbought conditions. However, price remained above the 50 threshold, suggesting continued bullish conviction despite potential for a near-term pullback.

Bollinger Bands

Volatility expanded significantly during the overnight Asian and European sessions, with price reaching the upper Bollinger band at 03:15 ET. In the following hours, volatility contracted, and price consolidated within the bands, suggesting a period of consolidation. The closing candle of the 24-hour period ended near the upper band, reinforcing the strength of the bullish trend.

Volume & Turnover

Volume spiked in the early morning ET hours as price broke above key resistance, peaking at 39.0M at 05:45–06:00 ET. Turnover aligned with volume in the early part of the session but began to diverge in the afternoon as prices moved higher but with lower notional value per trade. This suggests that while buyers dominated early, the strength of the trend may have weakened by late afternoon.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute chart, the 61.8% retracement level at 0.01587 was tested twice and held, reinforcing its role as a key support. On the daily chart, the 38.2% retracement at 0.01624 acted as resistance early in the session before being cleared. The 61.8% level at 0.01635 may now serve as a target for the next upward thrust.

Backtest Hypothesis

A potential backtest strategy could focus on identifying engulfing patterns above the 50-period moving average, with a stop-loss placed below the nearest Fibonacci support level. Entries could be triggered on a confirmation candle closing above the upper Bollinger band, with a target at the next Fibonacci resistance. Given the recent RSI overbought readings, a trailing stop could be used to lock in gains. This approach aligns with the observed bullish structure and appears to have confirmed validity during the overnight breakout.