Market Overview: Gains Network/Tether (GNSUSDT)

• Price tested key support around 1.485 before rebounding with a bullish bias.• Elevated volume during the recovery suggests potential short-covering or accumulation.• RSI near neutral zone indicates no extreme momentum; volatility remains moderate.• Bollinger Bands show a slight expansion, with price hovering near the midline.• MACD appears flat with no clear divergence, suggesting a consolidation phase.

Gains Network/Tether (GNSUSDT) opened at 1.506 on 2025-10-31 at 12:00 ET, reached a high of 1.524, a low of 1.484, and closed at 1.519 by 12:00 ET on 2025-11-01. The 24-hour volume was 95,555.57, and the total notional turnover was approximately 147,186.20. The pair exhibited a bullish bias after bouncing off the 1.485 support level.

In terms of structure, key support levels emerged around 1.485 and 1.490, while resistance was tested at 1.515 and 1.525. Notable candlestick patterns included a bullish engulfing pattern around 1.487–1.490 and a doji near 1.511–1.513, suggesting indecision after a strong move. The 20-period and 50-period moving averages on the 15-minute chart indicated a short-term upward trend, while the daily 50-period MA provided a broader directional bias.

Volatility expanded slightly during the session, with GNSUSDT fluctuating between the upper and lower Bollinger Bands. Price spent most of the session near the middle band, signaling moderate momentum and a potential continuation phase. The RSI indicator hovered near the 50 level, indicating no overbought or oversold conditions. The MACD remained flat, with the signal line closely tracking the MACD line, reinforcing a consolidation pattern.

The 38.2% and 61.8% Fibonacci retracement levels, based on the 1.484 to 1.524 move, were at 1.504 and 1.509, respectively. Price tested these levels multiple times during the session, indicating a potential continuation or consolidation pattern. Volume spiked during the 1.484–1.511 recovery, aligning with the price rebound and suggesting accumulation or short-covering. Notional turnover also increased during this period, reinforcing the price movement.

The RSI and MACD readings, in conjunction with the consolidation pattern, suggest a period of balance between buyers and sellers. The absence of overbought or oversold conditions and the moderate volatility indicate a cautious market. A further move above the 1.525 resistance could trigger a more extended bullish phase, while a breakdown below 1.485 may signal renewed bearish pressure.

Backtest Hypothesis

To evaluate potential entry and exit opportunities in GNSUSDT, a backtest using the RSI-14 indicator could provide valuable insights. By identifying historical overbought conditions (RSI > 70), it is possible to assess how the market reacted and whether those signals correlated with subsequent price reversals. Unfortunately, the data provider could not retrieve the RSI-14 series for GNSUSDT, likely due to the symbol not being recognized in its technical-indicator database. To proceed with the analysis, you may either:

1. Provide an alternative symbol for GNSUSDT (e.g., a different exchange identifier).
2. Supply the overbought dates manually if you already have the list.
3. Opt for an alternative indicator, such as moving-average crossovers or price-based thresholds.

Selecting one of these options will allow the backtest to proceed and provide actionable insights on historical GNSUSDT price behavior during overbought scenarios.