GoPlus Security/Tether (GPSUSDT) Market Overview

• Price declined from 0.00859 to 0.00831 over 24 hours, forming a bearish trend.
• Volume spiked during the breakdown, especially in the 21:15–21:45 ET timeframe.
• Bollinger Bands indicate tightening volatility before the drop, signaling potential breakout.
• RSI approached oversold levels near 0.00831, but failed to trigger a rebound.
• MACD turned bearish with a clear crossover, confirming downward momentum.

GoPlus Security/Tether (GPSUSDT) opened at 0.00855 on 2025-10-22 at 12:00 ET, reaching a high of 0.00859 and a low of 0.00823 before closing at 0.00831 on 2025-10-23 at 12:00 ET. Total traded volume amounted to 72,945,253.36, with a notional turnover of ~$613,943. The price action reflected a strong bearish bias, with the breakdown below key support levels leading to a sustained decline.

Structure & Formations

The 24-hour period featured a strong breakdown from 0.00852 to 0.00831, with a bearish engulfing pattern visible around the 21:15–21:30 ET window. A doji formed near 0.00825 as the price approached oversold territory, indicating indecision and a lack of buying interest. Key support levels were seen at 0.00825 and 0.00818, while resistance lingered around 0.00840–0.00845.

Moving Averages and Volatility

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price during the early 21:00–21:30 ET window, confirming bearish momentum. Volatility, as measured by Bollinger Bands, tightened significantly before the drop, followed by an explosive expansion as the price fell sharply. The price closed just below the lower band, suggesting heightened bearish pressure.

Momentum and Divergence

MACD turned decisively bearish with a golden cross turning into a death cross, confirming the breakdown. RSI dipped below 30, reaching oversold levels near 0.00831 but failed to trigger a meaningful bounce. Volume spiked during the downward leg, especially between 21:15–21:45 ET, providing confirmation of bearish conviction. Notable divergence appeared between price and RSI during the final hours of the session.

Fibonacci and Turnover Analysis

The decline from 0.00859 to 0.00823 saw the price testing key Fibonacci levels, with 0.00831 aligning closely with the 61.8% retracement level. Notional turnover increased significantly during the breakdown, with the 21:15–21:45 ET period showing the highest activity. However, no meaningful divergence appeared between price and turnover during the rebound attempts, suggesting limited short-covering or buying pressure.

Looking ahead, GPSUSDT is likely to face immediate resistance at 0.00836–0.00840, with a possible retest of the 0.00825–0.00830 range if bearish momentum persists. A break below 0.00825 could trigger further downward movement toward 0.00815. Investors should remain cautious for a potential short-term bounce, but the overall bias remains bearish unless there is a clear reversal candle or a breakout above 0.00845.

Backtest Hypothesis

Given the strong bearish confirmation from MACD and RSI, a potential backtesting strategy could be built around shorting GPSUSDT following a breakdown below key moving averages and a RSI reading below 30. A 3-day holding period could be applied with a stop-loss just above the 0.00840 level to capture short-term bearish momentum. This setup would align well with the observed volume spikes and breakdown patterns, offering a data-driven approach for systematic traders.