Market Overview: The Graph/Tether (GRTUSDT) 24-Hour Performance

Summary
• Price action shows a sharp drop from 0.03675 to 0.03558 before rebounding to close near 0.03668.
• Momentum shifted from bearish to mixed with RSI suggesting possible overbought conditions at the end of the day.
• Volatility surged during the midday sell-off, but volume increased only moderately.
• Bollinger Bands widened during the decline, reflecting heightened uncertainty.
• A bullish engulfing pattern formed in late morning trading, indicating potential short-term reversal.

The Graph/Tether (GRTUSDT) opened at 0.03675 and hit a low of 0.03558 before surging to a high of 0.03694, closing at 0.03668. Total traded volume reached 49.009 million GRT, with a notional turnover of approximately $178,757.69.

Structure & Formations

Price moved between key support at 0.03595 and resistance near 0.03665–0.03694, with a bullish engulfing pattern forming late morning as GRTUSDT moved back above 0.0366. A doji appeared at 14:45 ET, signaling indecision amid a brief pullback to 0.03669.

Moving Averages

On the 5-minute chart, price briefly closed above the 20 and 50-period MAs during the late morning rebound, indicating potential short-term bullish momentum. However, the 50-period MA remains below the 20-period MA, suggesting mixed signals in the short term.

MACD & RSI

MACD turned positive after 11:30 ET, aligning with the rally to 0.03694. RSI reached 66–70 in the late afternoon, indicating overbought conditions, though not extreme, and suggesting a potential pullback is possible.

Bollinger Bands

Bands widened during the midday decline, reflecting increased volatility, with price reaching the upper band briefly before retreating.

Volume & Turnover

Volume remained moderate throughout most of the session, surging near 11:30 and 14:45 as price rallied and corrected. Turnover matched the price action closely, with no divergence observed.

Fibonacci Retracements

The 61.8% Fibonacci level of the key midday swing (0.03694–0.03558) sits at 0.03618, which acted as a minor support area before the price continued upward.

Price appears to have found a near-term equilibrium around 0.0366–0.0369, but with RSI trending overbought and volume waning after the rally, a consolidation or pullback could occur. Investors should monitor the 0.0363 support zone and be cautious of a potential correction.