STEPN (GMTUSD) Potential for an Upward Rally
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STEPN (GMTUSD) Price Forecast: February 28
GMTUSD has a potential for an upward rally as the price will most likely continue its bullish run. The coin could still go higher if the price is able to break up the $0.820 supply value, then we can expect a good upside momentum up to $1.000 upper resistance trend levels.
Key Levels:
Resistance Levels: $0.600, $0.700.00, $0.800
Support Levels: $0.400, $0.300, $0.200
GMT (USD) Long-term Trend: Bearish (Daily Chart)
The STEPN pair is showing a bearish display in its long-term perspective. The price responded to the shift in the market structure and is currently below the moving averages. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the GMTUSD buy traders.
The coin price on the daily chart today is currently facing resistance and trading at the $143.184 correction level. Further, the rising prices reclaimed more confirmation for a bullish recovery. More upsides are possible if it breaches the moving averages.
More so, the crypto is trading in the oversold region, under the influence of this market level, the coin should rise steadily soon and break up the previous high at $0.820 level to reach the $1.000 resistance level soon as we watch the crypto market turns bullish in the long-term perspective.
GMT (USD) Medium-term Trend: Bullish (4H Chart)
The market value of GMTUSD on the medium-term time frame (1H) at a $0.386 supply level is seen slightly above the EMA-9.
The bullish pressure on the crypto in the past few hours has sustained the coin price above the supply trend lines.
The strong push by buyers to the $0.386 resistance trend line above the EMA-9 as the 1-hourly chart opens today shows that the buying activities are rising. Thus, if the long traders could break above the $0.633 supply mark, the bearish thesis will be invalidated.
Thus, STEPN is pointing up on the momentum indicator, this indicates that the price of the crypto will still continue in an upward move and in this case $1.000 supply level may be the target in its medium-term time frame.
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