Market Overview for GMT/Tether (GMTUSDT) – 24-Hour Summary

Summary
• GMTUSDT surged 31% over 24 hours, breaking above 0.0161 and reaching 0.02156 before a pullback.
• Strong bullish momentum seen early in the session with a climaxing 0.02027 high.
• Late session consolidation near 0.0195 suggests exhaustion; volume remains robust.
• Key support at 0.01601 tested twice; no immediate breakdown observed.
• MACD and RSI signal overbought conditions, raising potential for a near-term reversal.

GMT/Tether (GMTUSDT) opened at 0.01609 on 2026-01-08 12:00 ET, surged to a high of 0.02156, and closed at 0.01950 on 2026-01-09 12:00 ET. The pair recorded a 24-hour volume of 493,308,650.25 units and a turnover of 9,788,963.85 USD.

Structure & Formations

The price action displayed a strong bullish breakout early in the session, forming a broad ascending channel from 0.01601 to 0.02156. A key resistance at 0.0203–0.02036 was tested and broken, though the asset pulled back slightly afterward. Notable bearish divergence appeared in the latter half of the session, suggesting a possible reversal. A large bullish engulfing pattern formed near 0.01606–0.01612, followed by a long upper shadow at 0.0203–0.02036, indicating mixed momentum.

Moving Averages

On the 5-minute chart, price closed above both 20-EMA and 50-EMA lines, confirming a strong near-term uptrend. The daily chart shows price well above 50- and 100-day SMAs, but slightly below the 200-day SMA, hinting at a medium-term bullish bias with long-term caution.

MACD & RSI

The MACD histogram remained positive throughout the 24-hour window, with a sharp increase in momentum during the peak breakout at 0.02156. The RSI surged above 70, indicating overbought territory and increasing the likelihood of a short-term pullback. Divergence between rising highs and declining RSI suggests a potential reversal in the near term.

Bollinger Bands

Price spent most of the session above the upper Bollinger Band, a sign of strong bullish momentum and high volatility. The bands widened significantly during the climaxing move toward 0.02156, signaling increased market participation and volatility. A contraction in the bands is now evident, suggesting a potential pause in the move.

Volume & Turnover

Volume remained elevated throughout the session, especially during the peak breakout and pullback phases, confirming the strength of price movements. Turnover spiked at 0.02027 and again at 0.0195–0.0196, aligning with key turning points. No major divergence between volume and price was observed, but a slowdown in volume during the latter half of the session suggests potential exhaustion.

Fibonacci Retracements

A key 50% retracement level at 0.01878 (from 0.01601–0.02156) was tested and failed to hold, allowing further upward momentum. The 61.8% level at 0.01991 is now acting as a potential short-term support/resistance.

Looking ahead, GMTUSDT may consolidate near 0.0195–0.0196 in the next 24 hours, with a risk of a pullback to 0.0185–0.0187. Traders should remain cautious about overbought conditions and monitor the 50-EMA for potential support.