GMT Technical Analysis Report | 29th-December-2022

The first step toward the move to earn non-fungible token (NFT) games powered by Solana’s blockchain is STEPN. STEPN allows users to earn tokens by walking, jogging, or running outdoors in NFT shoes. STEPN aspires to motivate millions of people to adopt a better lifestyle by bringing them closer to the Web 3 era while helping to achieve carbon neutrality. GMT’s price soared 34,000% in just 41 days, from $0.01 on March 9, 2022, to a new high of $3.45 on April 19, 2022. The token has had a fall in price by almost 4% while global volume increased by 17.3% in the last 24 hours.

At the time of writing, GMT was trading at $0.2478

GMT has been trading in a downtrend over the past seven months and the prices have plunged almost by 94% from the all-time high of $4.17. The asset started consolidating in a range from $0.34 to $0.425. It finally gave a breakout on the downside of the range and dropped to $0.2417. Currently, GMT is trading near its lows, forming a ‘Lower Top Lower Bottom’ pattern. The down sloping Moving Averages indicates more weakness, however, RSI is in the oversold region. The asset has a strong support at $0.175.

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