Stepn Price Analysis: Will GMT finally Escape the Falling Wedge, After BTC Rising from its own Ashes?

  • Stepn price is preparing for its escape from the falling wedge pattern over the daily price chart.
  • The crypto asset is recovering towards the 20 EMA and aims for 50, 100 and 200-days Daily Moving Average.
  • The pair of GMT/BTC is at 0.00003689 BTC with an intraday gain of 14%.

However, the chances of a breakout are comparatively high as BTC the traditional cryptocurrency has recovered above $20000 and is trying to gain steady uptrend momentum. Other altcoins have also started gaining over the daily price chart. 

Stepn price is presently CMP at $0.76 and has gained 27% of its market capitalization in the last 24-hour period. Trading volume has increased by 61% in the intraday trading session. This shows that buyers are trying to accumulate themselves as GMT is rising above the falling wedge pattern. Volume to market cap ratio is 1.1.

GMT coin price is trying to escape the falling wedge pattern over the daily price chart. All other altcoins are trading bullish as BTC sustained above $20000 today. GMT bulls must maintain this uptrend momentum to register the token’s breakout. However, volume change can be seen below average and needs to grow for GMT to sustain at the verge of descending wedge pattern. 

Will GMT Escape from the Falling Pattern? 

GMT coin price has been trying to escape the falling wedge pattern over the daily price chart. The token is trying to accumulate buyers and is growing significantly over the daily price chart. However, it’s a matter of time to see if GMT bulls sustain at the current level or if GMT prices face some sort of correction. Technical Indicators suggest the uptrend momentum of GMT coin. The Relative Strength Index showcases that GMT is heading towards neutrality. RSI is at 41 and GMT investors can expect any directional change as soon as RSI crosses the neutrality. 

MACD exhibits the uptrend momentum of the GMT coin. The MACD line is ahead of the signal line after a positive crossover.

Conclusion

Stepn price is heading towards the verge of upper trendline and has gained significantly over the daily price chart. The token is trying to sustain at the upper trendline bulls must be determined to register the tone’s breakout. However, volume change can be seen below average and needs to grow for GMT to sustain at the verge of descending wedge pattern. The token is trying to accumulate buyers and is growing significantly over the daily price chart. However, it’s a matter of time to see if GMT bulls sustain at the current level or if GMT prices face some sort of correction. Technical Indicators suggest the uptrend momentum of GMT coin. 

Technical Levels

Support Levels: $0.50
Resistance Levels: $0.90

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.