GPSUSDT Market Overview for 2025-11-06

• Price declined from 0.00609 to 0.00581 over 24 hours, with bearish momentum.• Volatility expanded in the early hours, followed by a sustained consolidation.• Key support levels at 0.0059–0.00593 were repeatedly tested with mixed follow-through.

GoPlus Security/Tether (GPSUSDT) opened at 0.00609 and closed at 0.00581 over the 24-hour period. The price reached a high of 0.00615 and a low of 0.00576. Total trading volume amounted to approximately 97.2 million, while turnover (notional value) stood at around $568,000.

The 15-minute chart reveals a bearish bias with a strong breakdown in early evening hours, followed by a consolidation phase in the late session. The price has been trading below both the 20- and 50-period moving averages on the 15-minute chart, suggesting short-term bearish momentum. On the daily timeframe, the 50-period moving average is slightly above the 200-period line, indicating a neutral to mildly bullish tone in the broader context.

Structure & Formations

The price action suggests a continuation of a bearish trend, marked by several key support levels between 0.0059 and 0.00593. A notable bearish engulfing pattern formed around 11:45 PM, confirming a shift in sentiment. A key resistance level appears to be 0.00606, which has been tested multiple times without a sustained break. A doji candle formed at 03:45 AM, signaling indecision and possible reversal.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart both crossed below key support levels, reinforcing the short-term bearish setup. The daily chart shows the 50-period MA at 0.00601, while the 200-period MA rests at 0.00598, indicating a potential for a gradual bullish crossover in the coming days if buying pressure reemerges.

MACD & RSI

The MACD line turned negative and crossed below the signal line in the early session, signaling bearish momentum. RSI dipped to 30 in the late hours of the session, hinting at oversold conditions. However, the price has not followed through with a bounce, suggesting weak conviction from buyers.

Bollinger Bands

Volatility expanded significantly in the first half of the session, with the Bollinger Bands widening to capture the full 0.00025 range from 0.0059 to 0.00615. The price has since consolidated within a narrower band, trading near the lower band in the final hours. This may suggest a potential for a bounce or test of the lower boundary in the next session.

Volume & Turnover

Volume spiked during the early breakdown, particularly between 19:00 and 20:30 ET, with strong selling pressure evident. However, volume has declined significantly since 21:00 ET, indicating reduced interest. Notional turnover has remained stable, with no significant divergences observed.

Fibonacci Retracements

The 38.2% Fibonacci retracement level at 0.00599 has been a key resistance, while the 61.8% level at 0.00593 has acted as a support. Recent price behavior suggests a potential for a test of the 50% retracement level at 0.00596, which could offer a pivot for a short-term bounce.

Backtest Hypothesis

The provided backtesting strategy indicates that historical data for GPSUSDT is currently unavailable, which is likely due to a ticker symbol mismatch or an exchange-specific issue. A successful backtest would require confirmation of the correct exchange and ticker, such as verifying whether GPSUSDT is quoted on Binance, OKX, or Bybit. Once validated, a MACD Golden-Cross strategy could be applied to test its effectiveness from 2022-01-01 to 2025-11-06.