Market Overview: GMT/Tether (GMTUSDT) 24-Hour Technical Summary

• GMT/Tether declined from 0.0378 to 0.0372 in 24 hours with bearish momentum.
• Key support at 0.0368 and resistance at 0.0373 confirmed by price action.
• Volatility expanded after 19:00 ET as volume spiked to 2.8M.
• RSI in oversold territory with diverging volume, hinting at potential bounce.
• Bollinger Band contraction and MACD bearish crossovers signal caution.

GMT/Tether (GMTUSDT) opened at 0.0378 on 2025-09-25 at 12:00 ET and closed at 0.0372 on 2025-09-26 at 12:00 ET. The pair hit a high of 0.0378 and a low of 0.0363 during the period. Total volume amounted to 32,382,155.3, with notional turnover at 1,138.7. A bearish bias was evident as price spent most of the day below key moving averages and formed several bearish patterns.

Structure & Formations

GMTUSDT formed a series of bearish candlestick formations, including a bearish engulfing pattern around 18:00 ET and a shooting star near 0.0373. A trendline break occurred after 19:30 ET, confirming a shift in sentiment. Key support levels were identified at 0.0368 and 0.0365, while resistance clustered around 0.0373 and 0.0375. A bullish reversal formation at the close might hint at near-term consolidation.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart remained bearish, with price consistently below both. Daily chart MAs (50/100/200) also displayed a bearish alignment, reinforcing the short-term downtrend. A potential crossover above 0.0373 could test the 50-period MA as a potential support-turned-resistance.

MACD & RSI

MACD showed a bearish crossover with a negative histogram, reinforcing the downward move. RSI dropped to oversold territory below 30 by early morning, but failed to trigger a strong bounce. Divergence between price and RSI suggests traders should monitor for a reversal signal before 0.0365 becomes a key test.

Bollinger Bands

Volatility expanded around 19:00 ET as Bollinger Bands widened, followed by a contraction near the close. Price closed near the midline of the bands, suggesting a potential consolidation phase. A breakout above or below the band edges could indicate renewed directional bias.

Volume & Turnover

Volume spiked to 2.8 million at 18:00 ET, coinciding with a sharp drop in price. Turnover confirmed the bearish move, but diverged from price near the close, where volume declined despite a small rebound. This divergence may indicate lingering uncertainty or fading bearish conviction.

Fibonacci Retracements

Fibonacci retracement levels from the 0.0378 to 0.0363 move indicated 0.0371 as the 23.6% level and 0.0368 as the 38.2% level. Price held above 0.0368 for most of the session, suggesting it could be a temporary support. A break below 0.0365 could see the 61.8% retracement at 0.0362 become relevant.

Backtest Hypothesis

The backtest strategy involves entering a long position when RSI dips below 30 and volume increases by at least 20% from the 5-day average, combined with a bullish engulfing pattern. Exit is triggered when RSI crosses above 50 or after a 1.5% gain. This approach would have captured the 0.0368 rebound on 2025-09-26, though trailing stops may be necessary to avoid false breakouts.