The crypto market has displayed a positive month as major cryptocurrencies have recorded a new yearly high during this month. The market leader, Bitcoin, has also recorded a new high, indicating a strong bullish presence in the market.
STEPN’s price has gained over 25% in value within the past day, making it the top gainer of the previous day in the industry.
The GMT price was seen trading in a consolidated range between $0.1460 and $0.1691 during the October price pump. As the month of November was about to begin, the bulls successfully broke out of the resistance level, resulting in the price starting the month on a positive note.
STEPN price constantly gained momentum but the price was rejected at $0.2039, following which the price traded sideways for about a week. After this, the bulls regained momentum and gained value but the price was again seen rejected at $0.2443 post which price recorded a neutral trend.
The recent market pump helped the price successfully breach the upper level, following which the price has been trading in a consolidated range.
Recently, the price gained massive price action, resulting in the price breaking out of multiple resistance levels. Moreover, the price is hovering close to the resistance level of $0.3433 and is expected to make a move soon, of which the outcome is unpredictable.
Will GMT Price Continue To Rise?
The Moving Average Convergence Divergence (MACD) displays a significant rise in the chart, indicating an ongoing massive buying and selling pressure in the market. Further, the averages show a sharp rise, suggesting the price to continue gaining value in the coming days.
If the bulls push the price above the resistance level of $0.3433, the price will regain momentum and make a run to test its upper resistance level of $0.3803. Maintaining the price at that level will set the stage for the GMT price to attempt to test its resistance level of $0.400 by the coming month.
Conversely, if the bears overpower the bulls, the price will lose momentum and fall to test its support level of $0.2898. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $0.2443 in the coming week.
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