STEPN Technical Analysis: Price Upthrust by 4.13%

GMT Past Performance

Initially, GMT is trading at 2.7288 on 5th May as the bears persisted to mid-May. The coin has moved in a downtrend to reach the support of 1.11186 on 15th May. This has been followed by a sharp rally towards 1.19995levels where the bulls have taken a pause.

Source: Trading View

STEPN Technical Analysis

GMT Is currently trading at $0.9786 which is a price rise of 4.13%. The coin made an intraday high of $0.9807 on 6th July and a low of $0.8853 with a market capitalization of $5,883,915,469 and a trading volume of $486,188,485. The coin is currently trading above its 20 and 50 days EMA with both the averages sloping upwards.

The RSI indicator is at 55 levels with bullish divergence. Furthermore, the RSI line is heading towards the overbought region, while MACD bars are short and green in color indicating a bullish trend. The MACD line is currently trading close to the signal line.

Out of the 26 technical indicators,11 are giving a buy signal,9 are neutral and 4 are giving a sell signal. the Oscillators show 2 buys, 8 holds, and 1 sell. The moving averages show 9 buy signals 1 hold and 3 sell. The Bollinger bands are squeezed hence the candle bars are touching the above band as an indication of a bullish trend. The pair is likely to find support at $0.8868 and resistance at $0.9786.

Upcoming Trend

The pair is expected to continue its upward trend therefore the indicators point towards a bullish trend. The support levels are at $0.8868 and resistance levels are at $0.9786. Investors are advised to go long on the pair with a stop loss below $0.8868.

Conclusion

From the above technical indicators, it can be concluded that the pair is currently in a strong uptrend hence it is expected to continue its upward momentum in the near term.