GoPlus Security/Tether Market Overview

Summary
• GPSUSDT opened at $0.00622 and closed at $0.00628, with a 24-hour high of $0.00640 and low of $0.00604.
• The pair rose 0.77% over 24 hours on a volume of 117.5 million USDT and turnover of $738,996.
• A bullish reversal pattern emerged after a 15-minute pullback, with price reclaiming key resistance at $0.00628.

GoPlus Security/Tether (GPSUSDT) opened at $0.00622 on November 12 at 12:00 ET and closed at $0.00628 on November 13 at the same time. The 24-hour range saw a high of $0.00640 and a low of $0.00604. Total volume traded over the period was 117.5 million USDT, with a notional turnover of approximately $738,996.

The price action suggests a potential consolidation phase following a sharp intraday recovery. A key support level appears to be at $0.00622, with a resistance level forming near $0.00631. A bullish engulfing candle emerged at 08:45 ET, signaling short-term strength after a pullback to $0.00622.

On the 20-minute and 50-minute moving averages, the 20-period line has crossed above the 50-period, indicating short-term momentum favoring the bulls. RSI has moved into overbought territory at 73–75 for several intervals, suggesting caution for near-term continuation. MACD has turned positive and remains above the signal line, reinforcing the bullish bias.

Bollinger Bands show a moderate expansion in volatility, with price hovering near the upper band for most of the day, suggesting a continuation of the bullish trend. A 61.8% Fibonacci retracement level aligns with the $0.00628 level, which was successfully held and now acts as a potential support-turned-resistance.

Volume activity increased notably between 06:00 and 08:00 ET, confirming the upward move. Notional turnover peaked at $13,221 at 06:30 ET, coinciding with a breakout above $0.00635. A divergence between price and volume is currently not evident, indicating healthy conviction behind the move.

Looking ahead, GPSUSDT may test $0.00635 within the next 24 hours, with a risk of a pullback to $0.00624–$0.00622 if short-term momentum fails to hold.

Backtest Hypothesis
The backtesting strategy described could align with the recent RSI readings on GPSUSDT. RSI crossed into overbought territory multiple times during the day, particularly between 06:00 and 09:00 ET, which could have triggered short entries according to the outlined strategy. A hypothetical short position initiated on an RSI overbought close would align with the peak at 06:30 ET. The exit condition—covering at the lowest close of the last three intervals—could have captured a 1.2%–1.5% move down, depending on the timing. This aligns with observed pullbacks between 07:00 and 09:00 ET. Given the volume confirmation and lack of divergences, such a strategy may have yielded favorable outcomes, though the absence of a stop-loss exposes it to increased risk.