Market Overview for Gala/Tether (GALAUSDT): Rally and Confirmation in 24-Hour Window

Summary
• GALAUSDT rallied to 0.00773, forming bullish engulfing patterns near key resistance.
• Volume surged in late trading, confirming a breakout above 0.00769.
• RSI climbed into overbought territory, suggesting possible short-term pullback.
• Price held above 50-period moving average, signaling short-term bullish momentum.
• Volatility expanded, with price touching upper Bollinger Band for first time in 24 hours.

Gala/Tether (GALAUSDT) opened at 0.00733 on 2026-01-05 12:00 ET, peaked at 0.00790, and closed at 0.00767 on 2026-01-06 12:00 ET. The 24-hour total volume was 177,143,407.0, with a notional turnover of 1,374,133.92.

Price action on the 5-minute chart shows a clear upward shift, with the asset forming multiple bullish patterns, including engulfing candles near 0.00765 and 0.00773. The 50-period moving average on the 5-minute chart is bullish, with price consistently above the 20-period line.

On the MACD, positive divergence increased in late trading, aligning with the price breakout. RSI reached overbought levels near 73, indicating short-term exhaustion. Bollinger Band width expanded, with price testing and briefly exceeding the upper band at 0.0078–0.0079.

Volume spiked in the 14:00–17:00 ET period, confirming the 0.00769–0.00773 breakout. However, a pullback could test this level as support.

Fibonacci retracement levels on the 5-minute chart suggest key levels at 0.00763 (38.2%), 0.00759 (50%), and 0.00756 (61.8%) for potential near-term correction levels.

If volume remains elevated and price sustains above 0.00769, further upside could follow. However, a dip below 0.00759 could trigger a short-term bearish correction. Investors should remain cautious of overbought conditions and potential profit-taking.