GoPlus Security/Tether (GPSUSDT) Market Overview

• GPSUSDT closed at 0.01289, down from 0.01344, reflecting a bearish 24-hour price action.
• RSI and MACD indicate oversold conditions, suggesting potential for a short-term rebound.
• Volume expanded after 00:00 ET, but price action failed to confirm strong momentum.
• Volatility increased in the last 12 hours, with price moving beyond lower Bollinger Band levels.
• A bearish engulfing pattern formed around 00:30 ET, signaling a possible continuation of the downtrend.

Price Summary and Volume Activity

GoPlus Security/Tether (GPSUSDT) opened at 0.01344 on 2025-09-18 at 12:00 ET, reached a high of 0.01376 by 00:30 ET, and closed at 0.01289 on 2025-09-19 at 12:00 ET, with a low of 0.01269 during the session. Total 24-hour volume amounted to ~53,602,166.8, and notional turnover (amount * price) suggests increased selling pressure after 00:00 ET.

Structure & Formations

The 24-hour candlestick pattern reveals a bearish bias, with a key bearish engulfing pattern forming at 00:30 ET, where price dropped sharply from 0.01362 to 0.01367. A long lower wick is visible in the 20:30–21:00 ET period, suggesting rejection of higher prices. Support appears to have formed around 0.0132–0.0133, with a strong bearish breakout below 0.01307 on 09:45 ET.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward through the session, indicating sustained bearish momentum. On the daily chart, the 50-period and 100-period MAs were closely aligned near 0.0135, but the 200-period MA acted as a resistance line, with price breaking below it during the night.

MACD & RSI

MACD remains in negative territory with a bearish crossover during the last 12 hours, indicating continued selling pressure. The RSI dropped below 30 after 09:00 ET, confirming oversold conditions. However, the RSI has not yet rebounded to neutral levels, suggesting the downtrend could persist unless buyers step in near 0.0130–0.0131.

Bollinger Bands and Volatility

Volatility expanded as the pair broke below the lower Bollinger Band near 0.01307 at 09:45 ET. The band width increased from ~0.00003 to ~0.00007, signaling heightened uncertainty and potential for a reversal or continuation of the trend. Price has remained in the lower third of the bands since the 09:45 ET low, indicating a high risk of further bearish momentum.

Volume & Turnover

Volume spiked after midnight, particularly around 00:30 ET and 04:45 ET, with high notional turnover at 0.01333 and 0.0132. However, price failed to follow through on the volume surges, creating a divergence that could signal exhaustion of the bearish move or potential for a short-covering rally.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from 0.01344 to 0.01376 (00:00–00:30 ET), price tested the 61.8% retracement at 0.01359 but failed to hold. On the broader daily chart, the 38.2% retracement level at 0.01325 may act as a potential support zone in the near term.

Backtest Hypothesis

The recent price action aligns with a potential backtesting strategy based on bearish engulfing patterns and oversold RSI conditions. A hypothetical trade could have been triggered at the 00:30 ET engulfing candle, with a stop-loss placed above 0.01367 and a target near the 38.2% Fibonacci level at 0.01325. Given the current bearish momentum and oversold RSI, a similar strategy could be re-evaluated for execution if the pair consolidates near 0.0130–0.0131 without breaking above 0.0133.