On the chart, $GPS
USDT shows a strong impulsive move earlier, followed by an extended corrective phase where price kept making lower highs. This pullback looks corrective rather than a full trend reversal, as the market recently reacted sharply from the 0.0048–0.0050 support zone. The bounce with a strong bullish candle suggests buyers are stepping back in, defending this area aggressively. As long as price holds above the reclaimed 0.0052–0.0053 region, the structure supports a recovery move toward the recent high.
From a long-trade perspective, the current setup favors continuation if price sustains above the broken minor trendline and consolidates above 0.0053. Acceptance above this level can open upside targets near 0.0059 first, followed by the 0.0063–0.0065 resistance zone where prior selling pressure exists. This type of V-shaped reaction often leads to short-covering rallies if momentum continues to build.
From a short-trade angle, sellers still have a chance if price fails to hold above 0.0052 and gets rejected near 0.0058–0.0060. A