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- The coin is facing a strong downtrend over the daily graph. Strictly needs its bulls.
- The price lost 17.69% over the 24 hrs trading session.
- The GMT/BTC pair is at 0.00003192 BTC with a loss of 12.42%.
STEPN is a self-styled “web3 lifestyle app” with GameFi elements on the Solana blockchain. It combines aspects of a play-to-earn game with a fitness app to create a new category coined “move-to-earn”. STEPN aspires to disrupt the fitness industry in several ways.
Talking about STEPN (GMT) the coin is newly launched in the middle of this March. The coin started with a good uptrend and reached an all-time high of $4.5, as the new coin attracted the buyers the price climbed well enough. But under the influence of this bearish market going currently the price is now below the $1 crucial support. This signifies the bearish dominance over the market. The coin once again needs to attract the buyers as it did in March to prevent the ecosystem from collapsing.
The current price for one GMT toke is $0.95 with a loss of 17.69% in its market capitalization in the last 24 hrs. The coin has a trading volume of 865 million with a loss of 2.36% in a 24 hrs trading session and a market cap of 569 million with a loss of 17.43% in it. The volume market cap ratio is 1.52.
What do Technical Indicators Suggest?
Looking at technical indicators like MACD, we can observe that the MACD line is currently moving above the MACD signal line which indicates a bullish run further but as there is no or very less gap between both lines and the signal is also very weak, the negative cross can take place anytime.
In support, the relative strength index is also indicating the increase in the selling volume by moving in a downward inclined motion. The RSI can indicate an oversold anytime as the RSI value is very low currently. The RSI value is below 40.
Conclusion
The coin started with a good uptrend. Under the influence of this bearish market going currently the price is now below the $1 crucial support. The coin once again needs to attract the buyers as it did in March to prevent the ecosystem from collapsing.
Technical levels
Resistance levels: $1.25 and $1.50.
Support levels: $0.75 and $0.50.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
