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- Gatetoken is in sideways trend
- A good opportunity arising for short term investors
The overall trend for the token at this time is downtrend, and gate token is now circling its 50 EMA (the blue colored line). At this time, the token is set to break an ascending triangle pattern as it reaches its resistance level.
Gate token on daily chart
We can see an ascending triangle being formed on a daily chart. Whenever such a triangle is formed, after its breakout a bullish move is expected. Short term to medium term investors have a good opportunity to invest in this coin as the price of token after the breakout of ascending triangle can go upto $3.7166 which is its near resistance.
MACD – A bullish crossover has occurred on the MACD. When the blue line of the MACD crosses the orange signal line in an upward motion, it is considered a bullish crossover. The occurrence of a bullish crossover on the MACD shows that the token has gained bullish momentum on the daily chart.
Analyst view and Expectations
The 200 EMA has worked as a powerful resistance and the price has consistently fallen from such levels, as is evident from the chart. Long-term investors have no excellent opportunities with the token. They must therefore wait till 50 EMA crosses 200 EMA, which indicates a bullish crossover.
According to CoinCodex’s GT price prediction; there is an optimistic mood with 21 of 26 technical indicators indicating that it is time to “buy.”
PricePrediction feels the same way about its potential. According to the website, GT may price $14 on average in 2025. According to their Gatetoken price forecast for 2030, this price might reach $83.85.
According to a 2022 projection by TechNews, the price of the Gate token cryptocurrency might have hit $7.23 in 2022. It stated that price may go upto $121.26 by 2030.
With its forecast, DigitalCoinPrice was more conservative. According to the website, GT might have cost $4.89 on average in 2022. According to its Gatetoken price forecast for 2025, it may rise to $11.80 and then reach $24.84 in 2030.
Technical Levels
Major resistance – $5.1695
Major support – $3.0487
Conclusion
Gatetoken is showing signs of bullish momentum. Investors looking for short term gains can buy now. In the following days we may see a bullish rise.
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
