Market Overview for Gnosis/Tether USDt (GNOUSDT): Strong Bullish Momentum in 24 Hours

• GNOUSDT rose from 135.73 to 139.58 in 24 hours, closing at 139.55 with strong upward bias.
• Bullish momentum confirmed by RSI and MACD divergence, with volume amplifying price rise.
• Volatility expanded significantly in final hours, with Bollinger Bands widening and prices testing outer bands.
• Key 15-min patterns include bullish engulfing and higher lows with increasing volume toward close.
• Total volume of 1,169.79 coins and turnover of $163,025.76 show growing on-chain activity.

Gnosis/Tether USDt (GNOUSDT) opened at 135.73 at 12:00 ET – 1 and closed at 139.55 by 12:00 ET, with a high of 139.68 and low of 135.73 during the 24-hour window. Total volume amounted to 1,169.79 coins, while notional turnover reached $163,025.76, indicating heightened market interest.

Structure & Formations

The 15-minute chart displayed a series of higher lows and bullish reversals, including a strong engulfing pattern at 136.01-136.14 and a key breakout above 137.07 that marked a new near-term high. A descending wedge formed between 136.15 and 136.81 was decisively broken to the upside, confirming a shift in market sentiment. A 15-minute doji at 136.28 showed indecision before a renewed rally. Key support levels include 136.27 and 135.87, with a critical resistance at 137.21 now acting as a psychological pivot for further gains.

Moving Averages and Momentum

Short-term moving averages (20/50) on the 15-minute chart have been ascending in a bullish alignment, with the 20-period MA recently crossing above the 50-period MA to signal a positive turn. On the daily chart, the 50-period MA is approaching the 100-period line, which could provide a pivot for a longer-term breakout. The MACD has turned positive with increasing histogram divergence, confirming the upward thrust. RSI has moved into overbought territory (70–80) during the final hours, but divergence between price and momentum suggests a continuation rather than exhaustion.

Bollinger Bands and Volatility

Volatility expanded sharply in the final 4 hours, with prices pushing close to the upper Bollinger Band (139.68) at the peak. This suggests heightened risk appetite and speculative buying. The band width increased from ~1.2% to ~2.3% during the session, reflecting the recent acceleration in price discovery. The move above the upper band confirms a breakout and may encourage further accumulation from long-side participants.

Volume and Turnover

Volume spiked dramatically in the last 6 hours, peaking at 220.597 coins during the 14:00 ET session when the price moved from 138.58 to 139.58. Turnover during this period reached $30,657.43, representing over 18% of the 24-hour total. Notably, volume and price are aligned, with no divergence detected, suggesting broad-based buying. The increase in volume is especially meaningful on the long side, confirming the price action rather than contradicting it.

Fibonacci Retracements

Recent 15-minute swings have aligned with Fibonacci levels: a key breakout above 137.07 (61.8% retracement of the earlier 135.87-136.94 leg) has led to a fresh 38.2% retracement target near 138.41 and a 61.8% extension at 139.96. On the daily chart, the 61.8% retracement of the 135.00-139.68 move sits at 137.44, which may act as a near-term consolidation target. The 139.68 high is a key area to watch for possible overextension or consolidation.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions on a bullish engulfing pattern above a key 50-period moving average, with a stop-loss below the 38.2% Fibonacci level and a take-profit at the 61.8% retracement. This setup was evident around 136.01-136.14 and again at 136.02-136.31, with both setups resulting in profitable outcomes. The current setup aligns with this strategy, suggesting a high probability of a continuation above 137.21.