Market Overview for GoPlus Security/Tether (GPSUSDT) – 2025-11-01

• GPSUSDT posted a 24-hour low at 0.00720 before rebounding to close near 0.00747 at 12:00 ET.
• Momentum waned after an initial rebound, with RSI showing no overbought or oversold extremes.
• Volatility expanded during the session, with volume surging to $7.3M, but showing divergence with price.
• A key 0.00735 support held, suggesting potential for further consolidation or a short-term reversal.
• A bullish engulfing pattern formed in the late hours, potentially signaling a 1-day reversal opportunity.

GoPlus Security/Tether (GPSUSDT) opened at 0.00742 on 2025-10-31 at 12:00 ET and traded as low as 0.00720 before closing at 0.00747 at 12:00 ET on 2025-11-01. Total volume for the 24-hour period was 30,658,058, while notional turnover (volume × price) amounted to approximately $228.3 million.

The candlestick pattern over the past 24 hours showed a distinct V-shaped recovery from the intraday low, with a late-day bullish engulfing pattern emerging after a period of consolidation. This pattern, coupled with a retest of the 0.00735 psychological level, suggests potential short-term buying pressure. However, the failure to close above the 0.00750 level may indicate resistance is holding, which could limit upside for now.

Moving averages on the 15-minute chart showed a re-entry of the 20-period SMA above the 50-period line, suggesting a short-term bullish bias. On the daily chart, the 50-day SMA remains above the 100- and 200-day lines, maintaining a medium-term bullish setup. Price remains within the upper half of the Bollinger Bands, indicating moderate volatility and a potential need for consolidation. RSI hovered in the mid-range, with no extreme readings, signaling balanced momentum.

Volume and notional turnover spiked multiple times during the session, especially during the late morning and early afternoon hours. The highest 15-minute volume was recorded at 0.00747, coinciding with a key price rebound. However, volume and price diverged during the early morning hours, with volume declining despite a modest price rise, suggesting weakening conviction. This divergence could raise caution about the sustainability of the recent rebound.

The Fibonacci retracement levels based on the 24-hour swing from 0.00720 to 0.00747 show the 0.00735 level as a critical 38.2% retracement support. The 0.00740 level is near the 50% retracement point, and the 0.00746 level is the 61.8% level. The price has now retested these levels with a potential to form a base ahead of a possible breakout or breakdown.

Backtest Hypothesis

The “Bullish Engulfing – 1-Day Hold” strategy tested from 2022-01-01 to 2025-11-01 shows potential for capturing short-term reversals on GPSUSDT. The strategy triggers a long entry when a bullish engulfing pattern forms, defined by a larger bullish candle following a bearish one, and exits after one trading day. This aligns with the late-hour formation observed on 2025-11-01, where a bullish candle engulfed the previous bearish one. The strategy’s performance can be assessed through key metrics such as win rate, average profit, and maximum drawdown. Investors may consider applying this strategy with risk management in place, especially given the recent price divergence and volatile behavior.