Alert, traders! 🚨 $GPS /USDT is showing "wolf in sheep's clothing" behavior. Watch out for false breakouts! 🐺 Manipulation in these types of markets is brutal and aims to catch the unsuspecting.
Right now, GPS/USDT is trading at $0.0223. We see a bounce from the 24h low at $0.0201, it seems to have found support! However, that rally attempt is hitting the MA(7) at $0.0217 and the MA(25) at $0.0209. If the price fails to break and consolidate above these moving averages, we could see a new pullback.
The 24h high was $0.0228, which will act as key resistance along with the previous peak of $0.0248. That is the area to surpass to confirm a trend change! The volume in 24h is 111.95M GPS, showing interest, but don't rely solely on volume, manipulation can inflate or deflate those numbers.
The order book shows a demand of 58.51%, which is positive, but beware! Those data can be misleading if there are large hidden orders or "iceberg orders" looking to move the price at will.
My advice: GPS/USDT is in a zone of high uncertainty. If you are thinking of entering, wait for a clear confirmation of an upward breakout and consolidation above $0.0228, or look for good support in the $0.0201 area if the price pulls back. Patience is golden in this volatile and manipulated market. Don't get caught up in FOMO!
