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GMT price analysis: GMT suffers inflation at $1.948

GMT

TL;DR Breakdown

  • GMT price analysis is bullish today.
  • The strongest support is present at $0.362.
  • GMT trading price is $1.948

The GMT price analysis appears to be following a strong upward movement, with the GMT/USD price breaking the resistance. This may indicate a future reversal movement for the GMT token. The GMT price analysis reveals a continued bullish movement in the market, and the market moves towards a significantly positive direction, increasing the price of GMT significantly.

However, the market has shown fluctuating dynamics in the last few hours. As a result, the cost of GMT experienced a massive upside movement and reached $1.838, from $1.031; on March 29, 2022; however, GMT/USD continued on an increasing tendency the following day.

Today, on March 30, 2022, the price has been experiencing massive ups and downs, causing the price of GMT to move up to the $2.230 mark just before declining to $1.948. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. GMT currently trades at $1.948; as a result, GMT has been down 3.13% over the previous 24 hours, with a trading volume of $2,630,111, ranking #459 with a live market capital of $78,454,023.

GMT/USD 4-hour analysis: Recent developments

The GMT price analysis revealed the market is following a bullish trend as the market increases volatility, forcing the resistance and the support to move apart; now, the price will follow the volatility to whichever extreme it decides. For now, the price is becoming more prone to volatile change. Consequently, the upper limit of the Bollinger’s band is present at $1.952, which acts as the strongest resistance point for GMT. Conversely, the lower limit of the Bollinger’s band is available at $0.362, which acts as the strongest support point for GMT.

The GMT/USD price crosses over the Moving Average curve, making the market bullish. Moreover, the price seems to move upward, signifying an increasing movement, indicating a stable value for the cryptocurrency. The price appears to move towards the resistance, almost meeting it and ultimately breaking the market, which could cause volatility to explode even more and possibilities of a reversal.

GMT price analysis: GMT suffers inflation at $1.948 1
GMT/USD 4-hour price chart source: TradingView

The GMT price analysis reveals that the Relative Strength Index (RSI) score is 86, making GMT/USD fall well above the overvalued region. However, the RSI score follows a downward trend indicating a declining market and dominance of selling activity.

GMT price analysis for 1-day: Market breaks

The GMT price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow an opening trend, making GMT’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $1.596, which serves as a support point for GMT. Conversely, the lower limit of the Bollinger’s band exists at -$0.092, which acts as another support point for GMT.

The GMT/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. On the other hand, the price seems to be following an increasing activity, showing signs of a growing market. As a result, the price moves toward the resistance, breaking it. A broken market indicates a strong reversal potential.

GMT price analysis: GMT suffers inflation at $1.948 2
GMT/USD 1-day price chart source: TradingView

The GMT price analysis reveals an overvalued cryptocurrency’s relative strength index (RSI) score of 86. Furthermore, the RSI falls complete inflation region. Therefore, following an upward approach signals an increasing market and represents the buying activity surpassing the selling activity, causing the RSI score to increase. This massive increase could cause the price to plummet completely.

GMT Price Analysis Conclusion

The GMT price analysis reveals the market following bullish movement, showing reversal dynamics as the market breaks. As a result, the market offers massive room for a newfound negative movement. Although, as a result, the bears might enter the arena and dominate the market, the RSI score indicates a heavily inflated cryptocurrency which will prove to be a fatal blow to the GMT token in the long run.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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