GoPlus Security/Tether (GPSUSDT) Market Overview for 2025-10-09

• GPSUSDT traded lower by ~5.9% over 24 hours, breaking below key support levels.
• Volatility surged during the sharp sell-off, with a 0.004 wide range between high and low.
• RSI and MACD both signaled bearish momentum with no overbought signs observed.
• Bollinger Bands show expansion amid declining price, suggesting high short-term risk.
• On-chain volume spiked during the 2-4 AM ET dump, confirming bearish continuation.

24-Hour Summary (12:00 ET 2025-10-08 to 12:00 ET 2025-10-09)

GoPlus Security/Tether (GPSUSDT) opened at 0.01326 and closed at 0.01290, with a high of 0.01711 and a low of 0.01281. The pair declined in a sharp bearish trend, especially during the overnight hours. Total trading volume over 24 hours was 638,853,753.5 USDT, and notional turnover reached 8,638.96 USDT.

1. Structure & Formations

GPSUSDT displayed multiple bearish signals over the past 24 hours, including a key breakdown below the 0.0143 support level that acted as a dynamic floor. A strong bearish engulfing pattern was observed on the 15-minute chart around 3:00 AM ET. Additionally, the price failed to hold the 0.01501 level after a brief bounce, indicating a lack of buying interest. A doji formed near 0.01334, suggesting indecision, but it was followed by a sharp breakdown.

2. Moving Averages

On the 15-minute chart, the price dropped below both the 20 and 50-period EMA lines, forming a bearish divergence. The 50-period EMA at ~0.01400 acted as a resistance before the breakdown. On the daily chart, the 50 and 200 EMA lines are converging from above, with the price failing to close above the 50-EMA, reinforcing the bearish bias.

3. MACD & RSI

The 15-minute MACD showed bearish divergence with the price, as the histogram declined during the selloff despite falling prices. RSI bottomed near 30 in the late morning of October 9 but failed to rebound, remaining in oversold territory. This lack of bounce suggests limited short-term support.

4. Bollinger Bands

Bollinger Bands expanded sharply following the overnight sell-off, with the price dropping near the lower band during the morning. The wide band width reflects increased volatility and uncertainty. The price has remained near or below the lower band since the breakdown at 0.0143, signaling potential for further downside.

5. Volume & Turnover

Volume spiked dramatically during the 2-4 AM ET period, coinciding with the breakdown of key support levels. Notional turnover also rose sharply during this time, confirming the bearish continuation. A divergence in volume during the 8-10 AM ET bounce suggests weak conviction, with volume failing to support the higher prices.

6. Fibonacci Retracements

Fibonacci retracement levels applied to the 15-minute chart indicate that the 0.0143 level acted as a strong 61.8% retracement support before the breakdown. On the daily chart, the 0.0134 level is now a potential 38.2% retracement target from the recent high near 0.01711. If the price breaks below 0.01285, it could test the 61.8% retracement at 0.0125.

Backtest Hypothesis

Applying a backtesting strategy that targets short positions on the breakdown of key Fibonacci support levels, the 0.0143 and 0.0133 levels were effectively triggered during the 24-hour period. The strategy would have entered short at or near these levels with a stop above the respective high. Given the confirmation of these breakdowns with volume and MACD bearish divergence, the strategy shows high probability. If the 0.01285 level is tested next, the strategy could extend its short exposure while watching for a bullish reversal at 0.0125 to manage risk.