GPSUSDT Market Overview for 2025-11-04

Summary
• GPSUSDT opened at $0.00614 and closed at $0.00572, down 6.5%.
• Price traded in a tight range during the overnight hours before a sharp decline after 04:00 ET.
• Volume surged to $38.6 million at the peak, highlighting significant selling pressure.

GoPlus Security/Tether (GPSUSDT) opened at $0.00614 on 2025-11-03 at 12:00 ET and closed at $0.00572 on 2025-11-04 at 12:00 ET, reaching a high of $0.00625 and a low of $0.00570. Total volume over the 24-hour period was approximately 47,841,824, while total turnover was around $294.4 million.

Structure & Formations

The price action revealed a bearish continuation pattern with a breakdown below key support levels. After testing resistance at $0.00618 early in the session, the price failed to retest the level and broke through key support at $0.00602 and $0.00590. A bearish engulfing pattern appeared at $0.00602, confirming the downward momentum. A potential stop for short positions might now be below the recent swing low at $0.00570.

Moving Averages

The 15-minute chart showed the price closing below both the 20-period and 50-period moving averages, indicating a strong bearish bias in the short term. On the daily chart, the price was trading below the 50, 100, and 200-day moving averages, reinforcing a medium-term bearish outlook. The convergence of multiple moving averages below the price suggests continued downward pressure.

MACD & RSI

The MACD turned bearish after 05:00 ET, with the histogram contracting and the line crossing below the signal line. RSI dropped into oversold territory at $0.00570, but the divergence between the price and RSI indicated the move might not be over yet. Momentum remained weak and negative for most of the session, suggesting continued bearish momentum could persist in the near term.

Bollinger Bands

Volatility expanded during the sharp sell-off in the early morning hours, with the lower Bollinger Band acting as a dynamic support level during the decline. Price action remained below the 20-period Bollinger Band for most of the session, indicating a period of bearish dominance. A retest of the upper band could occur if buyers enter the market, but this would require a reversal in momentum.

Volume & Turnover

Volume spiked significantly during the morning sell-off, with the largest 15-minute volume reaching $38.6 million. Turnover was highly concentrated in the 05:30–06:30 ET window, where selling intensified. The price-volume divergence was evident after the midday low, as volume decreased while the price continued lower, suggesting exhaustion could be in play.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart indicated a critical support zone at $0.00590 and $0.00580, which were tested and broken. On the daily timeframe, the 38.2% and 61.8% retracement levels were at $0.00599 and $0.00590, respectively—both of which were breached, indicating a possible continuation lower. A bounce from the 61.8% level at $0.00590 would likely need strong volume confirmation to be significant.

Backtest Hypothesis

The recent bearish momentum and clear breakdowns suggest a short-term shorting strategy could be profitable. A potential backtest could involve entering short positions upon a close below the 20-period moving average with a stop above the 61.8% Fibonacci level. Exits could be triggered by a close above the 50-period moving average or by a 7% stop-loss to capture the downward bias. This approach would aim to capitalize on the current bearish trend while managing risk.