GoPlus Security/Tether (GPSUSDT) Market Overview

• Price declined from 0.00926 to 0.00842, down 9.1% in 24 hours
• Oversold RSI suggests potential short-term reversal
• Volatility expanded as price broke below key support at 0.0088
• On-balance volume confirms bearish momentum in early hours
• Bollinger Band contraction signals low volatility ahead

GoPlus Security/Tether (GPSUSDT) opened at 0.00926 at 12:00 ET–1 and closed at 0.00842 at 12:00 ET, with a 24-hour high of 0.0093 and a low of 0.00824. Total volume across the 24-hour window was 44,686,124.1 units, with a notional turnover of approximately $379,648 (using closing price for calculation). The pair exhibited strong bearish momentum during the first half of the session and appears to be consolidating at lower levels.

The 15-minute chart shows a breakdown below the 20- and 50-period moving averages, with the 50-period MA sloping downward, indicating bearish bias. On the daily timeframe, the price is well below all key moving averages, reinforcing a long-term bearish outlook. The MACD crossed below the signal line in the early hours, confirming the sell-off, while RSI entered oversold territory at 24, hinting at a possible bounce.

Bollinger Bands have widened significantly in response to the sharp decline, with price currently hovering near the lower band. This suggests a period of heightened volatility and a potential short-term bounce from the 0.0084 support level. A bullish reversal candlestick pattern, like a hammer or morning star, could emerge as support is tested. Volume has remained elevated during the decline, confirming the move lower and indicating strong bearish conviction from traders.

Fibonacci retracements on the most recent 15-minute swing (0.00864 to 0.0093) place key levels at 0.00904 (38.2%), 0.00889 (50%), and 0.00873 (61.8%). Price has already broken below 38.2% and may test 0.0085 next. On a daily basis, a retracement to 0.00865–0.00875 could be a target if the decline stabilizes. Traders may watch these levels for signs of accumulation or rejection.

The backtest strategy described involves leveraging technical indicators like MACD and RSI to identify potential entry and exit points, with a focus on Golden Cross events and overbought/oversold conditions. Integrating this approach with the recent bearish divergence in GPSUSDT could help traders time entries after a potential bounce from key support levels, using Fibonacci and Bollinger Band levels for profit targets and stop-loss placement.

While the current technical setup suggests a short-term consolidation phase, the underlying bearish bias remains intact. A sustained break below 0.0084 could extend the decline toward 0.00825–0.00815. However, a strong rebound from the lower Bollinger Band may see a short-term recovery toward 0.0086. Investors should remain cautious of increased volatility and divergences in volume or price action.