Stepn’s native cryptocurrency, GMT, is following a strong bullish sentiment after registering over 200% gains since the start of the year. It’s charging at higher resistance with no sign of weakness.
The rate at which Stepn’s price increased over the past few days is worth paying attention to with such astonishing performance.
Following the past weeks of the rally, which started above $0.22, the price reclaimed the critical resistance of $0.41 and flipped the four-month resistance line. It marked a two-month high at $0.566 and looked for a retest.
GMT later found support above this confluence resistance level and fueled another rally. The price struggled under the $0.54 level throughout last weekend as traders got trapped.
Toward the close of yesterday’s trading, the coin dropped briefly below the $0.5 price level and took out several buy stop-loss before it bounced back with a big price movement today.
It surged to a new monthly high but now changing hands at around last November’s resistance level due to a small price drop.
Behind Axie Infinity, the web3 play-to-earn coin – GMT is spotted as the second top gainer of the market today. The price is up by more than 28% at press time.
STEPN Key Levels To Watch
As long as the price of Stepn remains above $0.4, we can expect it to keep rising in the coming days.
The nearest resistance level from the current trading level is located at $0.7. After that, there is a crucial supply zone to keep in mind at $0.8, drawn in white in the above daily chart. The next target above it is $0.9, followed by the $1 psychological level.
If this cryptocurrency loses the $0.64 level and the price continues to decline, it may retest the $0.54 level that got flipped earlier today. The next support level is $0.41. Below this level lies the $0.3
Key Resistance Levels: $0.7, $0.9, $0.9
Key Support Levels: $0.54, $0.4, $0.3
- Spot Price: $13
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
Image Source: kviztln/123RF // Image Effects by Colorcinch
