Market Overview: GPSUSDT — Bearish Momentum Confirmed Amid Key Support Breakdown

• GPSUSDT fell from 0.01298 to 0.01227, forming bearish breakdowns and bearish engulfing patterns.
• RSI and MACD confirmed bearish momentum, with RSI below 30 and negative MACD divergence.
• Volatility expanded as price broke below key support at 0.01286 and tested 0.01221.
• Bollinger Bands widened with price near the lower band, reinforcing oversold conditions.
• 24-hour volume rose to 19.4M, but turnover dropped, suggesting reduced conviction in lower levels.

Market Overview

GoPlus Security (GPSUSDT) opened at 0.01298 (12:00 ET - 1), hit a high of 0.01307 and a low of 0.01219, and closed at 0.01227 (12:00 ET) after a bearish 24-hour session. Total volume reached 19.4M, with turnover at $2.43M, indicating a sharp decline in buying pressure as price sank toward 0.01221.

Structure & Formations

Price broke below key support at 0.01286, confirming a bearish breakdown from earlier consolidation. A bearish engulfing pattern formed around 0.01299–0.01293, followed by a series of lower lows and bearish momentum. The 0.01221 level acted as a temporary floor, with price rebounding slightly in the last 15-minute window. A potential retracement target is now 0.01245 (38.2% of the 0.01221–0.01299 swing), though a breakdown below 0.01221 could extend the move to 0.01210.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart confirmed the downtrend, with price consistently below both. On the daily chart, the 50- and 200-period SMAs may converge near 0.01240, offering a potential short-term line of resistance. A close below 0.01226 could test the 100-period MA as a further bearish signal.

MACD & RSI

RSI dipped below 30, indicating oversold conditions, but divergence in the MACD suggested bearish momentum was still intact. The MACD line stayed negative and crossed below the signal line in the final hours, reinforcing the sell bias. However, RSI may find a floor near 28, suggesting limited downside if buyers re-enter at these levels.

Bollinger Bands

Bollinger Bands expanded throughout the session, with price settling near the lower band in the final 15-minute candle. This position near the lower band, combined with a widening band width, signals increased volatility and a probable continuation of the downtrend. A sustained move above the upper band at 0.01260 would signal a possible short-term reversal, but this appears unlikely without a meaningful volume spike.

Volume & Turnover

Volume surged to 19.4M in the last 24 hours, with heavy selling pressure between 0.01299 and 0.01221. However, turnover (notional value) decreased in the last few hours, indicating reduced conviction in the move lower. A divergence between rising volume and declining turnover suggests market participants may be pausing, watching for a potential rebound or breakdown below 0.01221.

Fibonacci Retracements

Fibonacci levels from the 0.01221–0.01299 swing show 0.01245 as the 38.2% retracement and 0.01265 as the 61.8% level. Price may test 0.01245 as resistance in the next 24 hours, with a potential bounce expected if volume increases. A breakdown below 0.01221 could extend the move to 0.01210, but this will depend on liquidity and news flow.

Over the next 24 hours, GPSUSDT may test 0.01221 for a potential breakdown or rebound off the 38.2% retracement at 0.01245. Investors should closely watch the 0.01245–0.01260 range for early signs of reversal, but bearish momentum remains strong unless volume and turnover confirm a reversal. As always, market sentiment and external factors may override technical signals.