GoPlus Security/Tether (GPSUSDT) Market Overview: 2025-09-21

• GPSUSDT declined 5.2% over 24 hours, testing support near 0.01260 after a sharp sell-off in late night trading.
• RSI dropped into oversold territory, suggesting a potential near-term bounce, while volume surged during the decline.
• A bearish engulfing pattern formed at the session high, confirming downward momentum after earlier consolidation.
• Volatility expanded as Bollinger Bands widened, with price lingering near the lower band for the final 6 hours.
• Turnover exceeded $340k during the selloff, indicating significant participation, though divergence with price suggests caution.

At 12:00 ET–1 on 2025-09-20, GPSUSDT opened at 0.01296 and traded between 0.01299 and 0.01252 over the next 24 hours, closing at 0.01265 by 12:00 ET on 2025-09-21. Total traded volume reached 58,483,306 and notional turnover exceeded $742,000, with the bulk of activity concentrated between 23:30 and 01:30 ET.

Structure & Formations

The price action on GPSUSDT formed a clear bearish bias over the last 24 hours, marked by a series of lower highs and lower lows. A key support level emerged near 0.01260, with the price bouncing back slightly after failing to break through during a late-night sell-off. A bearish engulfing pattern was evident around 03:30–04:30 ET as the price gapped lower following consolidation. This confirmed the shift in sentiment, reinforcing the bearish outlook. A doji candle appeared at 05:30–06:00 ET, indicating indecision, but it was quickly followed by a sharp decline. Resistance levels are currently at 0.01290 and 0.01300, while support is at 0.01260 and 0.01250.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart remained bearish, with the 20-period line dipping below the 50-period, confirming a short-term downtrend. On the daily chart, the 50-period MA crossed below the 200-period MA, signaling a broader bearish shift. This crossover suggests that the price may continue to face downward pressure in the near term unless a strong bullish reversal is observed.

MACD & RSI

The MACD crossed below the signal line during the early morning hours, confirming the bearish momentum. The histogram showed a steady expansion in bearish divergence, indicating that selling pressure was intensifying. The RSI dropped below 30 into the oversold zone during the session, which could suggest a near-term bounce from the key support level at 0.01260. However, the RSI has remained in the oversold region for several hours, which may indicate a lack of buying interest, increasing the likelihood of a breakdown below 0.01250.

Bollinger Bands

Volatility increased significantly as the Bollinger Bands expanded, especially during the price drop in the late night. For the final 6 hours of the session, GPSUSDT remained near the lower band, signaling oversold conditions and the potential for a short-term rebound. However, the inability to move back toward the middle band suggests lingering bearish sentiment and a possible continuation of the decline toward the next support level.

Volume & Turnover

Volume surged during the sell-off between 23:30 and 01:30 ET, with a notable increase in notional turnover that outpaced the price decline. This divergence suggests strong participation from sellers but also indicates potential exhaustion in the short term. The volume profile after 05:30 ET showed a reduction in trading activity, which may indicate a lack of buyers at current levels. A follow-up volume spike during a rebound will be critical to confirm any reversal attempt.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.01299 to 0.01252, the key levels of interest are at 38.2% (0.01276), 61.8% (0.01264), and the 100% level at 0.01252. The price has stalled near the 61.8% retracement, which may act as a temporary support level. On the daily chart, the 61.8% retracement of the larger downtrend is at 0.01230, suggesting a potential target for further declines if the bearish trend continues.

Backtest Hypothesis

The backtest strategy aims to leverage the observed bearish momentum by entering short positions when the RSI falls below 30 and the price breaks below the 50-period moving average on the 15-minute chart, with a stop-loss placed just above the nearest resistance level. A take-profit target is set at the 61.8% Fibonacci retracement level. This strategy would have captured most of the recent decline and would have exited before potential short-term bounces, aligning well with the observed technical conditions.