$GUN USDT Perp is showing a sharp short-term recovery, but the broader structure is still conflicted. Price at 0.01840 has bounced aggressively from the 0.01535 low, reclaiming EMA 5, 20, 50 and sitting just above EMA 100 at 0.01643. That tells you momentum traders are firmly in control right now. However, the elephant in the room is EMA 200 at 0.02341, which remains far above current price. Until that level is even approached, this move looks more like a strong counter-trend rally than a confirmed trend reversal.
Volume supports the bounce, but not without raising eyebrows. The 24h volume is massive, yet the short-term MA(5) volume is already higher than MA(10), hinting at potential exhaustion if follow-through weakens. Price was rejected near 0.01888, which now acts as immediate resistance. If bulls cannot push cleanly above that zone, the market risks slipping back toward 0.01645 and possibly the 0.01380 to 0.01400 region where EMA 50 and EMA 20 cluster. That area is critical. Losing it would flip sentiment quickly.
The controversial take is this: strength here is real, but conviction is questionable. This rally feels fueled by positioning rather than long-term confidence. As long as price stays below EMA 200, bears still own the higher timeframe narrative. Bulls need a decisive break above 0.01950 followed by acceptance to even argue for trend continuation. Otherwise, $GUN USDT remains a high-volatility trading instrument, not an investment-grade setup. In short, momentum is hot, structure is not, and that mismatch usually ends with pain for late entries.