Market Overview for GoPlus Security/Tether (GPSUSDT)

Summary
• GPSUSDT formed key support near 0.00615 and resistance at 0.00624–0.00626.
• Price closed near 0.00619, forming a bearish consolidation pattern after earlier bullish momentum.
• Volume spiked during a sharp sell-off in the early hours, indicating increased bearish pressure.
• RSI remained neutral to slightly oversold, suggesting limited momentum on both sides.
• Bollinger Bands showed mild contraction, indicating potential for a breakout in the near term.

GoPlus Security/Tether (GPSUSDT) opened at 0.00620 on 2025-12-07 12:00 ET, touched a high of 0.00632 and a low of 0.00591, and closed at 0.00619 on 2025-12-08 12:00 ET. Total 24-hour volume amounted to approximately 96.2 million, while notional turnover stood at $586.9 thousand.

Structure & Formations

The price of GPSUSDT demonstrated a distinct bearish consolidation after forming a short-term high near 0.00627. A critical support level formed around 0.00615–0.00616 following a sharp sell-off in the late evening, confirmed by a bearish engulfing pattern. A potential resistance cluster is evident at 0.00624–0.00626, with mixed directional pressure observed in that range.

Moving Averages

On the 5-minute chart, the price has spent much of the day below both the 20-EMA and 50-EMA, suggesting short-term bearish bias. The daily chart shows a more neutral setup with the price hovering near the 50-period MA, indicating potential for a directional shift.

MACD & RSI

The MACD crossed into negative territory during the late evening, aligning with the sharp sell-off. RSI remained in neutral to slightly oversold territory for most of the session, suggesting limited momentum from either side. No extreme overbought or oversold conditions were observed.

Bollinger Bands

Bollinger Bands showed a slight contraction in the early morning, followed by a modest expansion as volatility returned. Price spent much of the session in the lower half of the bands, suggesting bearish pressure and possible continuation of the trend if support at 0.00615 holds.

Volume & Turnover

Volume spiked during the sell-off in the late evening, particularly around 21:45–22:15 ET, when the price dropped from 0.00622 to 0.006. Notional turnover also increased during this period, suggesting significant participation from sellers. The volume distribution was uneven, with higher buying interest reemerging in the early morning hours but not enough to reverse the trend.

Fibonacci Retracements

Applying Fibonacci to the 0.00591–0.00632 move on the 5-minute chart, the price currently appears to be near the 61.8% retracement level at approximately 0.00617. A potential rebound from here could target the 78.6% level at 0.00626, but a break below 0.00615 may signal further downside to the 0.00605–0.00606 level.

The market appears to be consolidating within a defined range, with support and resistance levels providing key decision points. Over the next 24 hours, a break above 0.00624–0.00626 could indicate renewed bullish momentum, while a sustained move below 0.00615 may signal continued bearish bias. Investors should remain cautious and monitor volume and RSI for signs of momentum shifts.