STEPN (GMTUSD) Price Retesting the $0.8207 Supply Level
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STEPN (GMTUSD) Price Forecast: February 24
GMTUSD may likely retest the $0.8207 supply level as it is about to resume its bullish race. The coin is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the price may likely reverse and turn positive to reach the $1.000 high level and beyond.
Key Levels:
Resistance Levels: $0.6000, $0.7000.00, $0.8000
Support Levels: $0.4000, $0.3000, $0.2000
GMT (USD) Long-term Trend: Bearish (Daily Chart)
The STEPN pair is showing a bearish display in its long-term perspective. The price bars can be seen 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 sustained bearish pressure in the past few days has made the crypto price remain below the supply trend levels at its recent low.
Meanwhile, the current price at a $0.4169 low value below the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin during the bearish market will also make gains in the future.
The Stochastic is also showing the market is approaching the oversold region. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend to retest the $0.8207 supply level; the $1.000 resistance level might be reached in the days to come in its long-term outlook.
GMT (USD) Medium-term Trend: Bearish (4H Chart)
The market price of GMTUSD is currently trading in the bearish market zone. This is due to the inflows from the sell traders.
The sell traders made a downward move to the $0.4267 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
Actions from the bears further dropped the coin price down to the $0.4188 support level below the two EMAs as the 4-hourly chart resumes today.
Hence, should the bulls exchange hands with the sell traders and close above the $0.6868 resistance value, additional intraday gains would be recorded for the buy investors.
Additionally, the price of STEPN might possibly swing up above its previous high at the $0.8207 value soon as the coin market price now trades in the oversold region, this will compel the bulls to resume the upward movement and in this case, the price might push higher to the $1.000 supply mark and beyond in the days ahead in its medium-term time frame.
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