Market Overview: Gravity/Tether (GUSDT) 24-Hour Analysis

• Gravity/Tether (GUSDT) drifted lower over the last 24 hours, with bearish momentum gaining strength after 18:00 ET.
• Price fell from 0.00691 to 0.00674, a 2.46% drop, with volume spiking in the early part of the session.
• RSI moved into oversold territory, indicating potential for a short-term bounce, but bearish continuation patterns suggest caution.
• Volatility remained low in the final hours, with Bollinger Bands showing a contraction ahead of a potential breakout.

At 12:00 ET the prior day, Gravity/Tether (GUSDT) opened at 0.00689 and traded as high as 0.00691 before closing at 0.00676 at 12:00 ET today. The 24-hour price range was 0.00691 (high) to 0.00674 (low). Total volume was 11,034,428.0, and total turnover was approximately $75,347.29. The session saw a gradual erosion of bullish momentum, with bearish control dominating in the latter half.

Structure & Formations

Price action formed a descending channel pattern with support at 0.00674 and resistance at 0.00691 over the 24-hour period. A series of bearish engulfing patterns emerged after 18:00 ET, signaling continued downward bias. The trend appears to be consolidating within a key 0.00674–0.00691 range, with no clear reversal signs.

Moving Averages

On the 15-minute chart, price closed below both the 20-period (0.00683) and 50-period (0.00685) moving averages, reinforcing bearish bias. If price remains below these levels, the short-term trend may continue lower. On the daily timeframe, the 50-period MA is near 0.00683, and the 200-period MA is near 0.00676, suggesting a bearish alignment over the longer term.

MACD & RSI

The MACD showed bearish divergence in the last 8 hours of the session, with a negative crossover and bearish histogram. RSI bottomed at 30 in the last 3 hours of the session, entering oversold territory. This suggests a potential short-term bounce, but with no bullish reversal patterns in sight, a retest of 0.00674 may follow.

Bollinger Bands

Price traded within the Bollinger Bands for much of the session, with a narrowing of the bands in the final 4 hours. This contraction typically precedes a breakout or continuation move, with bearish momentum likely to guide the next direction.

Volume & Turnover

Turnover was highest between 18:45 ET and 19:45 ET, with a peak of $1,147.23 during that window. Price and turnover moved in the same direction during this period, confirming bearish strength. However, in the final 3 hours of the session, turnover dropped significantly, suggesting a lack of conviction in further declines.

Fibonacci Retracements

Applying Fibonacci levels to the 0.00674–0.00691 move, key retracement levels include 0.00683 (38.2%) and 0.00688 (61.8%). Price closed near the 61.8% retracement level, suggesting a potential pivot point ahead. If 0.00674 holds, a rebound into 0.00683–0.00688 could follow.

Backtest Hypothesis

The provided backtest strategy relies on identifying Bullish Engulfing patterns in candlestick data for GUSDT. However, the data source returned an error, indicating that the symbol is not recognized. This suggests either a misidentified symbol or an exchange-specific listing not accessible through the current data feed. To proceed, it would be necessary to confirm the correct trading symbol (e.g., a similar token like BTCUSDT or ETHUSDT) or provide a list of specific dates where a Bullish Engulfing pattern was observed. Once valid data is provided, a 3-day holding strategy could be tested based on entry at the close of the engulfing pattern. This aligns with the current analysis, which shows a bearish bias and limited reversal signals—conditions that may reduce the effectiveness of a bullish strategy unless paired with a strong breakout or reversal pattern.

Forward-Looking View

The near-term bias remains bearish, with 0.00674 acting as a critical support level to monitor. A break below this may accelerate the decline, while a bounce above 0.00683 could signal a short-term countertrend. However, given the weak volume and bearish continuation patterns, investors should remain cautious about any rebounds.