STEPN (GMTUSD) Price Forecast: March 9
GMTUSD may likely rise from the current support at the $0.3398 level as it is about to resume its bullish race. If the forces from buyers in the market should increase and the current support level at $0.3398 holds, the coin price may possibly retest the $0.8207 previous swing high and this may extend to the $1.000 upper high mark 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 price drop to the $0.3437 low value during the previous action has made the coin price trade below the supply levels. Further, investors may seize the opportunity now and buy the coin at a lower price and look for more gains ahead.
Meanwhile, further downsides are unlikely as the market price of GMTUSD has reached the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buyer is coming near. If this is achieved, the bull race might reach the $1.000 upper high value in the coming days in its long-term outlook.
GMT (USD) Medium-term Trend: Bearish (4H Chart)
The market price of GMTUSD is also trading in the bearish market zone in the medium-term outlook. This is due to the inflows from the sell traders.
The price responded to the shift in the market structure and is currently trading at the $0.3398 support value below the moving averages as the 4-hourly chart resumes today.
Meanwhile, the current price at a $0.03398 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.
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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