Market Overview for The Graph/Tether (GRTUSDT)

• The Graph/Tether (GRTUSDT) closed near 0.0929 with a bearish bias after a sharp intraday decline.
• Price broke below key support at 0.0946, triggering bearish momentum and increased volatility.
• Volume surged during the breakdown, confirming bearish sentiment and confirming trend strength.
• RSI and MACD signaled overbought conditions in the morning before turning bearish.
• Bollinger Bands tightened before the selloff, suggesting a potential reversal in price direction.

The Graph/Tether (GRTUSDT) opened at 0.0943 on 2025-09-16 at 12:00 ET, reached a high of 0.0953, and closed at 0.0929 on 2025-09-17 at 12:00 ET. The 24-hour volume amounted to 25,578,015 GRT with a notional turnover of $2,421,541. The pair faced bearish pressure after breaking below key support levels, leading to a 0.5% decline in the last 24 hours.

Structure & Formations

The price action formed a descending triangle pattern on the 15-minute chart, with a breakdown below the 0.0946 support level. A bearish engulfing pattern emerged at 0.0947–0.0943 on 09:45 ET, confirming the shift in sentiment. A key support level is now at 0.0929, with a potential rebound likely if bulls intervene. A doji formed near 0.0930–0.0930 at 10:15 ET, hinting at a potential short-term pause in the downtrend.

Moving Averages

On the 15-minute chart, the price closed below both the 20-period and 50-period moving averages, signaling bearish momentum. On the daily chart, the 50-period MA is at 0.0949, and the 200-period MA at 0.0935, suggesting the pair is in a short-term bearish phase.

MACD & RSI

The MACD line crossed below the signal line in the morning, confirming bearish momentum. The histogram shows a significant contraction in bullish momentum. RSI dropped from over 60 in the morning to below 35 by midday, indicating oversold conditions and potential for a bounce. However, RSI remains in bearish territory, suggesting further downside could follow if no immediate reversal occurs.

Bollinger Bands

Bollinger Bands tightened between 0.0939 and 0.0949 before 09:00 ET, indicating a period of consolidation. The price broke below the lower band at 0.0930–0.0930 after 10:15 ET, signaling increased bearish volatility. A retest of the lower band could be expected, and a close above 0.0946 would negate the bearish scenario.

Volume & Turnover

Volume spiked during the breakdown below 0.0946, with a 15-minute candle at 09:45 ET seeing 363,180 GRT traded. Notional turnover also increased significantly during the selloff. However, volume during the rebound attempts has been relatively low, suggesting limited buying interest. Divergence between volume and price was not observed, indicating strong confirmation of the bearish move.

Fibonacci Retracements

On the 15-minute chart, the breakdown from 0.0946 to 0.0929 hits the 61.8% Fibonacci level, a key area of potential support. On the daily chart, the 38.2% retracement level is at 0.0942, which may see a test before the 50% level at 0.0939.

Backtest Hypothesis

The breakdown below the 0.0946 support and the formation of a bearish engulfing candle at 09:45 ET suggest a potential shorting opportunity. A backtest strategy could involve a short entry at 0.0944 with a stop-loss above 0.0947 and a target at 0.0925. The RSI reading in oversold territory suggests a potential bounce near 0.0930, making it a critical area for risk management. The Bollinger Bands and Fibonacci levels provide strong confirmation of this hypothesis.