GoPlus Security/Tether (GPSUSDT) Market Overview

• GPSUSDT rallied to a 24-hour high of 0.00954 before consolidating near 0.0094.
• Volume surged at 15:00 ET with a 0.00943–0.00951 range, confirming bullish momentum.
• RSI hit overbought (65–75) mid-day, suggesting near-term correction risk.
• Bollinger Bands expanded post-0.0094 break, signaling increased volatility.
• Turnover confirmed price strength on the 15-minute chart, though divergence emerged late.

The GPSUSDT pair opened at 0.00887 on October 11 at 12:00 ET and reached a high of 0.00954 by October 12 at 16:00 ET. The 24-hour low was 0.00864, and it closed at 0.0094 at 12:00 ET. Total volume traded was 139,373,894.5, with a notional turnover of approximately $1,293,130, calculated using the weighted average close.

Structure & Formations

The price action of GPSUSDT showed a bearish reversal from a 0.00916 peak at 19:15 ET, followed by a strong bullish rebound from 0.00877 at 22:45 ET. A bullish engulfing pattern formed on October 12 around 15:00 ET, as the pair moved from 0.0092 to 0.00943. A doji occurred at 16:45 ET, indicating indecision after a sharp move to 0.00954. Key support levels observed include 0.00900 and 0.00878, while resistance levels at 0.00951 and 0.00947 are now in play.

Moving Averages

On the 15-minute chart, the 20-period MA showed a bullish crossover with the 50-period MA at 14:30 ET, supporting the upward move. On the daily chart, the 50-day MA was at 0.00910, while the 200-day MA hovered near 0.00885, indicating a short-term bullish divergence. The price remains above both 50 and 200-day MA lines, suggesting an ongoing upward trend.

MACD & RSI

The MACD line crossed above the signal line around 13:30 ET, confirming bullish momentum. The histogram peaked at 15:00 ET, aligning with the strong rally to 0.00943. RSI reached overbought levels between 65 and 75, particularly after the 0.0094 break, suggesting a potential pullback or consolidation phase. However, sustained volume at key levels may delay a correction.

Bollinger Bands

Bollinger Bands expanded significantly after the 15:00 ET rally, with price touching the upper band at 0.00951. The band width increased from 0.00012 to 0.00018, confirming heightened volatility. Price remains within the bands but is close to the upper boundary, indicating possible near-term resistance. A break above 0.00951 could trigger further bullish extension, but a retest of the 0.00930–0.00940 range is likely in the short term.

Volume & Turnover

Volume spiked at 15:00 ET (5,334,670.3) and 15:30 ET (5,623,374), confirming the bullish breakout. However, turnover started to diverge from price after 16:00 ET, with a volume of 4,128,623.2 but only a modest move in price. This divergence suggests caution for further upside, as buying pressure may be waning. High volatility and large volumes at key levels have reinforced the likelihood of a continuation pattern forming.

Fibonacci Retracements

On the 15-minute chart, a 61.8% retracement level at 0.0094 was tested and held during the 16:00–16:45 ET timeframe. A 38.2% retracement at 0.00934 also acted as support. On the daily chart, the 61.8% retracement of the October 11 low to high is around 0.00932, which is now being tested. A close above 0.00947 could confirm a move toward the 78.6% retracement level at 0.00964.

Backtest Hypothesis

A potential backtesting strategy for GPSUSDT could focus on 15-minute bullish breakouts confirmed by MACD and volume surges. The 15:00 ET move to 0.00943 was a textbook example of this, with volume and momentum indicators aligning. A buy signal could be triggered when price breaks above the upper Bollinger Band and MACD turns positive, with a stop-loss placed at the previous swing low (e.g., 0.00934). This approach may work well in volatile environments like those seen in this 24-hour window.