Summary
• Gravity/Tether (GUSDT) traded in a tight range with no clear breakout, indicating short-term indecision.
• Momentum remains neutral with RSI near midpoint, while Bollinger Bands show low volatility.
• Volume increased sharply overnight but failed to push prices beyond key levels, suggesting a potential consolidation phase.
Gravity/Tether (GUSDT) opened at $0.00442 on December 28 at 12:00 ET, reached a high of $0.00450, a low of $0.00440, and closed at $0.00445 by December 29 at 12:00 ET. Total volume was 123,164,564 and turnover was $544,460 over the 24-hour period.
Structure & Formations
Price action remained confined within a narrow channel throughout the 24-hour period, with support forming around $0.00440–0.00442 and resistance between $0.00450–0.00453. A bearish engulfing pattern was observed early in the session, but it was followed by indecisive price action.
A doji formed near $0.00450 in the early morning hours, hinting at potential exhaustion on the buy side.
Moving Averages and Momentum
On the 5-minute chart, the 20-period and 50-period moving averages were closely aligned around $0.00445, reflecting a lack of directional bias. RSI remained within the 40–50 range, indicating neutral momentum. MACD showed a flattening histogram with the line and signal line near the zero level, supporting the idea of a consolidation phase rather than a trending move.
Volatility and Volume
Bollinger Bands were tightly compressed throughout the session, reflecting low volatility. Price remained within the middle band for much of the time, with no significant expansion indicating a lack of urgency in trading behavior. Volume surged during the overnight hours, reaching a peak with over 25 million units traded, but failed to confirm any directional move, suggesting traders may be waiting for a catalyst.
Key Levels and Fibonacci Retracements
Fibonacci retracements drawn from the recent 5-minute high of $0.00450 and low of $0.00442 show key retracement levels at $0.00446 (38.2%) and $0.00444 (61.8%). Price has bounced off the 61.8% level multiple times, suggesting it may be a short-term support.
Looking ahead, a breakout above $0.00450 could signal renewed bullish intent, while a drop below $0.00440 may invite further selling pressure. Investors should monitor volume and RSI for early signs of conviction.
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