Market Overview: GMT/Tether Gains Momentum Amid Volatility

Summary
• Price action showed a bullish breakout above 0.01540, with volume confirming strength.
• RSI signaled overbought territory near 75, suggesting potential near-term resistance.
• Bollinger Bands expanded during late hours, hinting at increased volatility.
• A bullish engulfing pattern formed at 0.01533-0.01542, signaling possible continuation.
• Turnover surged past $45,000, with volume concentrated during the 14:45–17:00 ET rally.

GMT/Tether (GMTUSDT) opened at 0.01518 on 2026-01-01 12:00 ET, reached a high of 0.01574, hit a low of 0.01511, and closed at 0.01574 by 12:00 ET on 2026-01-02. The 24-hour volume totaled 29,838,332.0 units, with a notional turnover of approximately $45,966.38.

GMT/Tether (GMTUSDT) exhibited a strong bullish trend over the last 24 hours, driven by a breakout above key resistance at 0.01540. Price action showed a clear shift in momentum, with the 20-period moving average on the 5-minute chart crossing above the 50-period line, signaling a potential continuation of the upward trend. MACD diverged slightly in the afternoon session, showing strength in price but with a slight weakening in momentum as RSI approached overbought levels.

Bollinger Bands expanded during the late trading hours, indicating an increase in volatility that was confirmed by a sharp rise in volume and turnover during the 14:45–17:00 ET window. A bullish engulfing pattern formed at the 0.01533–0.01542 level, which may indicate a reversal or continuation depending on how price reacts to the next key resistance at 0.01557. Fibonacci retracements from the 0.01511–0.01574 swing suggest potential support at 0.01548 (61.8%) and resistance at 0.01557 (100%).

Looking ahead, traders should watch for a potential pullback to test the 0.01535–0.01540 range before the next leg higher. However, caution is warranted in case of a rejection from current levels, which could lead to consolidation or a short-term correction.