GNSUSDT Market Overview: 2025-10-07

• GNSUSDT fell from 1.88 to 1.77, driven by sharp late-day selloffs and divergent price-volume dynamics.
• Momentum turned bearish with RSI below 30 and MACD below zero, indicating oversold territory.
• Volatility spiked in the last 6 hours, with Bollinger Bands widening and price hitting recent Fibonacci support.
• High-volume breakdowns occurred below key psychological levels, with bearish engulfing patterns forming near 1.83 and 1.79.
• Turnover surged during the 15:30–16:00 ET window, confirming bearish momentum and a high-probability continuation scenario.

Overview and Context

Gains Network/Tether (GNSUSDT) opened at $1.864 at 12:00 ET–1 and traded between $1.763 and $1.88 over the past 24 hours, closing at $1.772 as of 12:00 ET. The total volume amounted to 25,626.08 and notional turnover reached $45,373.93. A sharp selloff unfolded in the afternoon, with the price falling nearly 6% on increased volume and bearish reversal patterns.

Structure & Formations

Price broke down from a 24-hour high of 1.88, forming bearish engulfing and dark cloud cover patterns below key resistance levels. A notable bearish doji emerged at 1.845, followed by a breakdown below 1.83 and 1.80—psychological support levels that failed to hold. A 1.80–1.79 cluster saw a high-volume rejection, suggesting further bearish potential ahead.

Moving Averages

The 20-period and 50-period moving averages on the 15-min chart are well below the current price, indicating strong bearish bias. On the daily chart, the 50-period MA is below the 100- and 200-period MAs, reinforcing a bearish trend. Price is now below all three, with further breakdowns likely if 1.76–1.75 levels are tested.

MACD & RSI

The RSI fell below 30, entering oversold territory, while the MACD dropped below zero, confirming bearish momentum. A negative divergence emerged between price and RSI in the 15:30–16:00 ET window, suggesting the selloff may pause before resuming.

Bollinger Bands and Volatility

Bollinger Bands widened significantly as the selloff accelerated, with price trading near the lower band for much of the afternoon and early evening. This suggests increased volatility and potential short-term rebound risks, though continued bearish pressure remains probable.

Fibonacci Retracements and Support

A key 61.8% Fibonacci retracement level at 1.78 was breached, with the next support likely at 1.76, corresponding to the 38.2% level of a recent bearish leg. A breakdown below 1.75 would confirm a new leg down toward 1.73, with potential for a deeper correction if volume confirms further weakness.

Backtest Hypothesis

A backtesting strategy focusing on bearish engulfing patterns and RSI divergence could offer high-probability entries when volume spikes and price breaks below key psychological levels. For example, entries placed at 1.83 and 1.79 in the past 24 hours would have aligned with confirmed breakdowns. Adding stop-loss above the nearest resistance and trailing take-profit near 1.80 could manage risk effectively in a short-term bearish setup.