Market Overview for GoPlus Security/Tether (GPSUSDT) on 2025-10-08

• Price surged to 0.01337 before retreating to 0.01293 amid mixed momentum.
• RSI hit overbought levels, hinting at potential pullback.
• Volume increased in the final 6 hours, confirming bullish pressure.
• Bollinger Bands expanded, signaling rising volatility.
• A bearish engulfing pattern emerged near 0.01305, suggesting consolidation.

The GoPlus Security/Tether (GPSUSDT) pair opened at 0.01225 on 2025-1007 12:00 ET, climbed to a high of 0.01337, and closed at 0.01293 by 12:00 ET on 2025-10-08. The 24-hour volume amounted to 63,446,424.62, with a notional turnover of approximately $830,000. The price action reflects a strong upward thrust followed by a consolidation phase, suggesting potential resistance at 0.01314.

Structure & Formations

Key resistance levels emerged at 0.01314 and 0.01325, while support levels formed around 0.01292 and 0.0127. A bearish engulfing pattern appeared at 0.01305, which may signal a reversal. A doji candle at 0.01293 also indicates indecision among traders. These patterns suggest that price may consolidate in the coming hours.

Moving Averages

The 15-minute chart showed the 20-period and 50-period moving averages converging around 0.01302, indicating a potential pivot point. On the daily chart, the 50-period and 100-period moving averages are aligned closely, suggesting a continuation of the current trend unless price breaks below 0.0127.

MACD & RSI

The MACD histogram widened in the final hours, reflecting growing bullish momentum. However, RSI reached overbought territory (72–76) in the afternoon, signaling a potential retracement. If RSI dips below 50, a pullback toward 0.01278 could follow. Divergence between price and RSI suggests a need for caution.

Bollinger Bands

Bollinger Bands expanded significantly during the early morning, reflecting heightened volatility. Price tested the upper band at 0.01337 and closed near the midline, suggesting potential for a retracement toward the lower band at 0.01258. A close above the midline would reinforce bullish sentiment.

Volume & Turnover

Volume spiked in the last 6 hours, aligning with price surges above 0.01292. The notional turnover also increased, confirming participation from larger investors. However, a divergence between price and volume appeared around 0.01305, which could signal waning momentum if confirmed by a close below 0.01295.

Fibonacci Retracements

Fibonacci levels for the 15-minute move from 0.01253 to 0.01337 show key retracement levels at 0.01306 (61.8%) and 0.01296 (50%). On the daily chart, the 61.8% level at 0.01294 aligns with current price, suggesting a potential pivot point. A break below 0.01285 would target the 78.6% level at 0.01263.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions when the price breaks above the 61.8% Fibonacci retracement level (0.01306) on the 15-minute chart and closes above the 20-period moving average. A stop-loss is placed below the most recent support at 0.01292. The target is set at the upper Bollinger Band (0.01337), with a risk-to-reward ratio of 1:1. This setup aligns with observed price behavior and technical conditions over the last 24 hours.