Market Overview: GoPlus Security/Tether USDt (GPSUSDT) – 2025-09-11

• GPSUSDT opened at $0.01335 and closed at $0.01230, forming a bearish 24-hour candle.
• Price dropped 8.6% on rising volume, with a low of $0.01221.
• RSI hit oversold territory (<30), and MACD turned negative with bearish divergence. • Volatility expanded as Bollinger Bands widened, with price near the lower band. • Volume spiked in the late afternoon and early evening, confirming bearish momentum.

GoPlus Security/Tether USDt (GPSUSDT) opened at $0.01335 on 2025-09-10 12:00 ET and closed at $0.01230 by 2025-09-11 12:00 ET. The pair reached a high of $0.01367 and a low of $0.01221 during the 24-hour window. Total volume traded was ~256 million USD, and notional turnover stood at ~$3.2 million.

Structure & Formations

Over the 24-hour period, GPSUSDT formed a clear bearish structure, with price breaking below a key support level near $0.01300. A morning rebound attempt was rejected by the 0.01336 level, forming a bearish engulfing pattern. In the afternoon, the pair continued to consolidate lower, creating a descending triangle and a bearish flag pattern. A notable doji formed at $0.01300, signaling indecision, but was followed by a sharp breakdown into oversold territory. Key support levels now appear at $0.01280, $0.01250, and $0.01220, while resistance is near $0.01296.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs both trended downward, with price closing below both lines. The daily timeframe shows the 50-period and 200-period SMAs converging at around $0.01275, with GPSUSDT now trading below both, suggesting further bearish potential. A cross below the 50-period MA may indicate a stronger bearish bias.

MACD & RSI

The MACD turned negative in the early afternoon and crossed below the signal line, confirming bearish momentum. The histogram has shown a consistent contraction in bullish momentum, with a bearish divergence forming as price hit new lows while MACD failed to match previous negative lows. The RSI closed below 30 in the last few hours, entering oversold territory, but this may not necessarily signal a reversal without a strong rejection at key supports.

Bollinger Bands

Bollinger Bands widened significantly during the morning as volatility increased, and by the afternoon, GPSUSDT found itself near the lower band, which hovered around $0.01240. The contraction in the mid-morning gave way to a period of expansion, which aligned with the sharp decline in price. A sustained close above the upper band is unlikely without a clear reversal setup.

Volume & Turnover

Trading volume surged in the late afternoon and early evening, particularly as the price broke below key support levels. Notional turnover increased by over 40% during this time, confirming the bearish breakout. There was no significant divergence between price and turnover, suggesting the move is likely supported by genuine selling pressure rather than wash-trading.

Fibonacci Retracements

Applying Fibonacci retracements to the morning swing from $0.01367 to $0.01221, the 61.8% level sits near $0.01265, which was tested in the afternoon but failed to hold. The 38.2% retracement level at $0.01292 acted as a minor resistance but was eventually broken. A rebound near the 50% level at $0.01294 would need strong volume confirmation to suggest a potential short-term bounce.

Backtest Hypothesis

If a trader had employed a short-biased strategy targeting the breakdown of key Fibonacci and moving average levels, entry could have been triggered as GPSUSDT closed below $0.01300 with increasing volume. A stop-loss could be placed above the 0.01320 level, with a target near the 0.01250 and 0.01220 support levels. Given the RSI in oversold territory, a small long position could also be considered for a potential bounce, but only with tight risk management. The technical setup supports a directional bias to the downside in the next 24 hours, provided volume remains elevated and no strong bullish reversal patterns emerge.