- STEPN(GMT) token appears to be in an ascending triangle pattern with reference to the daily price chart.
- Traders again saw a volatile session, therefore, the coin recovered more than 105% trading volumes in the previous night.
- The price of bitcoin pairing with the STEPN token is slightly lower at 0.0000523 satoshis, up 1.3%.
The STEPN token had a great bull run since its inception with minor retracement steps. Meanwhile, the GMT token generated an ROE of around 1472% to it’s all-time high in just 60 days.
In terms of the 4-hours price graph as well as the daily graph, the STEPN (GMT) token appears to be in an ascending triangle pattern. Despite the upward movement, the bulls are barely trying to cross the sideways area.
In terms of the daily chart, the bulls are down almost 61% from the all-time high of $4.1 in just 20 days. Thus, GMT is trading at the $1.5 mark at the time of writing, with its market cap down 6% over the past 24 hours to trade at $938 million. Furthermore, bitcoin price traded slightly below 0.0000523 satoshis with the STEPN token up 1.3%.
The daily volume bar remains below the moving average (blue). But traders again saw a volatile session, therefore, the coin recovered over 105% of the trading volume in the previous night.
STEPN (GMT) is among the 20 and 50 EMAs
STEPN token price is showing an upside resistance from the 20-day EMA, on the other hand, the 50 EMA (Red) is the most recent bullish hurdle in the context of the 4-hours price graph.
Similarly, the RSI indicator is looking bullish on the hourly chart, on the other hand, the daily price graph remains weak below the half-line (50 mark).
Apart from this, according to the ADX indicator, the strength is decreasing for the last several days.
Conclusion
Traders should wait for the right opportunity until the price action of the STEPN (GMT) token now breaks this ascending triangle pattern.
Support level – $1.0 and $0.57
Resistance level – $3.1and $5.0
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.