GoPlus Security/Tether (GPSUSDT) Market Overview

• GPSUSDT traded in a 24-hour range of 0.01292–0.01387, closing at 0.01335 with a 0.01305 open.
• Price surged near 0.0138 before retracting, forming a bearish reversal pattern ahead of key resistance.
• Volatility spiked during late-night hours, with turnover peaking at $18.6 million following a bullish breakout.
• RSI overbought at 78 and later retreated below 50, signaling potential bearish momentum.
• Bollinger Bands widened during the rally, indicating increased volatility and a possible consolidation phase.

GoPlus Security/Tether (GPSUSDT) opened at 0.01305 on 2025-09-17 12:00 ET and closed at 0.01335 on 2025-09-18 12:00 ET, reaching a high of 0.01387 and a low of 0.01292 over the 24-hour period. Total trading volume amounted to 109,382,586.6 units, with notional turnover standing at approximately $1,464,947. The pair displayed a volatile, trendless session with strong intraday fluctuations, particularly in the late night and early morning.

Structure & Formations

The 24-hour chart shows a sharp bullish impulse from 0.0133 to a high of 0.01387, followed by a pullback that formed a potential bearish harami pattern near the 0.01357–0.01358 range. Key support levels appear at 0.0133 and 0.01315, with a notable 15-minute engulfing pattern forming after the high, signaling bearish exhaustion. Resistance is clustered near 0.01358 and 0.0137, with the latter being a key psychological level. A break below 0.0133 may trigger further downside to 0.01315.

Moving Averages

On the 15-minute chart, the 20-period moving average was slightly above the 50-period line, indicating short-term bullish momentum. However, both moved downward during the late-night pullback. On the daily chart, the 50-period MA sits at 0.01332, with the 200-period line at 0.01325. Price currently resides above the 50-day MA, suggesting a potential continuation of the medium-term bullish bias, but the 200-day line may act as a critical support.

MACD & RSI

The MACD histogram showed a strong bullish divergence during the late-night rally, peaking at a positive value of 0.00013, followed by a bearish crossover as the trend reversed. The RSI hit overbought levels (78) around 0.0138, then declined sharply to 47 by the close, indicating weakening momentum. A sustained RSI below 50 may confirm bearish sentiment, though a rebound above 55 could suggest a resumption of buying interest.

Bollinger Bands

Bollinger Bands widened significantly during the rally, with the price reaching near the upper band before retracting. This expansion indicates increased volatility and speculative trading during the breakout. As price retraced to the middle band and began consolidating, the bands appear to be contracting, suggesting a potential setup for a breakout or breakdown in the near term.

Volume & Turnover

Volume spiked during the late-night rally, with a peak of 10.1 million units on 0.01349, matching a turnover of $1.4 million. This was followed by a sharp drop in volume during the retracement, suggesting a lack of follow-through buying. A divergence between price and volume during the pullback reinforces bearish sentiment. Notional turnover reached a peak of $18.6 million during the 15-minute rally to 0.01387, indicating strong short-term liquidity.

Fibonacci Retracements

Fibonacci levels drawn from the 0.01292 low to the 0.01387 high indicate 38.2% at 0.01336 and 61.8% at 0.01321. The current close at 0.01335 sits just below the 38.2% level, suggesting a possible near-term consolidation. A move below 0.01321 could accelerate the correction, while a rebound above 0.01336 may trigger a test of 0.01358 resistance.

Backtest Hypothesis

The proposed backtesting strategy involves entering a short position upon a bearish engulfing pattern forming after a 5% intraday rally and confirming with a close below the 38.2% Fibonacci level. A stop-loss is placed above the recent swing high at 0.01358, and the target is the next Fibonacci level at 0.01321. This strategy aligns with the observed reversal pattern and RSI divergence during the late-night move. If implemented with a 2:1 risk-reward ratio, the approach may be tested across a minimum of 20 historical intraday setups.