Market Overview for The Graph/Tether (GRTUSDT) – 24-Hour Summary

Summary
• Price formed bearish engulfing patterns at key resistance levels.
• RSI indicated overbought conditions mid-day, followed by bearish divergence.
• Volume surged during sharp declines, confirming bearish momentum.
• Bollinger Bands showed moderate volatility with price closing near the lower band.
• Fibonacci retracement levels highlighted potential support near 0.0414.

The Graph/Tether (GRTUSDT) opened at $0.04264 at 12:00 ET − 1, peaked at $0.04311, dropped to a low of $0.04102, and closed at $0.04154 by 12:00 ET. Total 24-hour volume reached 69,069,805.0 and turnover hit $2,923,168.00.

Structure and Candlestick Formations

GRTUSDT displayed a bearish engulfing pattern around the 0.04310–0.04300 resistance level, signaling short-term bearish pressure. A morning doji near 0.04260 reflected indecision before the price broke lower. The price action suggested a strong bearish bias forming after a key swing high near 0.04311 failed to hold.

Momentum and Indicators

RSI reached overbought territory around midday but failed to confirm a bullish breakout, showing bearish divergence as the price declined toward 0.04150. MACD lines crossed into negative territory, reinforcing the bearish bias. The 20-period and 50-period moving averages on the 5-minute chart remained bearishly aligned, with price below both.

Volatility and Volume

Bollinger Bands expanded during the early afternoon low at 0.04102, showing heightened volatility. The price closed near the lower band, indicating bearish exhaustion.

Volume spiked during the sharp decline in the 19:00–21:00 ET range, confirming the bearish momentum. Turnover also rose significantly, aligning with volume and reinforcing the strength of the selloff.

Fibonacci Retracements

The 61.8% Fibonacci retracement level from the 0.04311 high to the 0.04102 low aligned with 0.04146, a key support zone that held through the closing hours. Price action suggests that a break below this level could trigger a test of 0.04030, a potential target for further declines.

Over the next 24 hours, GRTUSDT may test the 0.04146 support level. A close below that could signal a short-term downtrend. Investors should watch for volume confirmation or a rejection from key support levels as signs of potential reversal.