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STEPN price analysis: Bulls continue ruling the charts as GMT races to a $4.04 all-time high

STEPN price analysis: Bulls continue ruling the charts as GMT races to a $4.04 all-time high

TL;DR Breakdown

  • STEPN price analysis shows a bullish trend.
  • STEPN (GMT) price levels have jumped across the $3.7 resistance.
  • Technically selling pressure for the STEPN (GMT) token may appear at $4.11.

Today’s STEPN price analysis report is in support of the bulls as their accomplishments have been unbeatable. The native token of STEPN (GMT) was expected to race high, as speculations were already there from several market veterans that the token will start a new round of uptrend. This has been confirmed by the bullish price action since yesterday, as the token has started to rally high, and the price has already reached $4.04. The bullish impact has proved to be everlasting since the price level has climbed past the $3.7 hurdle.

GMT/USD 1-day price chart: Buyers to outstrip their competitors

The 1-day STEPN price analysis for the GMT token indicates that the bullish momentum has been increasing throughout the day after the token made a jump higher yesterday. The past week has proved quite profitable for GMT as the bulls mainly ruled the market. Yet, today there has been a further upshift in the price levels as the price has increased up to $4.04 all-time high, as the token has gained a 20.58 percent value overnight.

The progress is appreciable as the price levels have left behind the moving average (MA) as well, which is at $3.4 of value. The trading volume has also increased by 174 percent today, providing a market dominance of 0.13 percent to the STEPN GMT token.

GMTUSD 1 day price chart 2022 04 28
GMT/USD 1-day price chart. Source: Tradingview

The Bollinger bands show divergence since 18 April 2022, due to which the volatility is on the rise as well. The Bollinger bands are maintaining the $4.11 upper value, which acts as the technical resistance for the token, and the $1.71 lower value, which represents the strongest support for GMT. Furthermore, the Relative Strength Index (RSI) has been trading in the overbought area since 26 April, as it is trading at index 75 at the time of writing while maintaining its upwards curve. The RSI has been on the higher side for a long period now and has been hovering near or at the border of the overbought zone.

STEPN price analysis: Recent developments and further technical indications

STEPN price analysis show bulls have been progressing in a relatively aggressive manner, as is evident from the 4-hours chart as well. The GMT price value has been continuously increasing over the past few hours, and it has reached the $4.05 level after the recent uptrend. The price is present above the upper value of the Bollinger bands, which is present at the $4.01 mark, and the moving average value, which on the other hand, is at the $3.66 level.

GMTUSD 4 hour price chart 2022 04 28
GMT/USD 4-hours price chart. Source: Tradingview

The volatility has been increasing on the 4-hour chart, which hints at the possibility of more uptrends in the future for the STEFN GMT token. The upper value of the Bollinger bands indicator, as mentioned above, is situated at $4.01 below the price level, while its lower value is settled at the $2.90 mark, thus indicating a larger envelope for price movement even on an hourly basis. The RSI score has been rapidly increasing as well because of the ongoing uptrend, and it is 73 at present.

STEPN price analysis conclusion

STEPN price analysis suggests the market speculations for a new round of uptrend have been confirmed as the token has started to rally high. The bulls have been progressing aggressively since yesterday, and at present, the crypto pair’s value has touched a $4.05 all-time high. It can be expected that the cryptocurrency may make it to $4.5 in the current cycle of the uptrend.

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.

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