Market Overview for GoPlus Security/Tether (GPSUSDT)

Summary
• Price surged to $0.00604 before retracing to $0.00578, showing a 4.3% decline over 24 hours.
• High volume consolidation near $0.0058 suggests a potential support zone forming.
• RSI indicates oversold conditions, hinting at possible near-term bounce.

24-Hour Price and Volume

GoPlus Security/Tether (GPSUSDT) opened at $0.00577 on 2026-01-04 at 12:00 ET and reached a high of $0.00604 before closing at $0.00568 at 12:00 ET on 2026-01-05. The 24-hour volume was 134,684,628.5 with a total turnover of $777,149.78.

Structure & Candlestick Patterns

Price action over the past 24 hours displayed a bearish reversal pattern with a long upper shadow near the $0.00604 high and a descending wedge from $0.00604 to $0.00568. A key support level appears to be forming at $0.00578, with a 5-minute engulfing pattern observed as the price broke below that level in the final hours.

Moving Averages and Momentum

On the 5-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing the bearish bias. The daily RSI dropped into oversold territory near 28, suggesting a potential pullback, while the MACD line crossed below the signal line, indicating declining momentum.

Volatility and Volume Analysis

Bollinger Bands widened during the morning hours (ET) as volatility increased, with price breaking below the lower band at the close. The highest notional turnover occurred between 18:00 ET and 21:00 ET, reaching $135,241.57. Volume and turnover diverged slightly in the final 3 hours, where volume remained elevated but price continued to fall.

Fibonacci Retracements

A 5-minute swing from $0.00577 to $0.00604 showed that the price retested the 61.8% Fibonacci level at $0.00586 before breaking down. On the daily chart, the retracement of the recent move from $0.0058 to $0.00601 placed the 38.2% level near $0.0059, where the price stalled before reversing.

The market may see a short-term bounce from the $0.00578 support, but a break below that level could open the door to $0.00565. Investors should remain cautious of further bearish momentum if volume increases again without a clear reversal pattern.