In the past three days, GMT price has been on a strong bullish streak, resulting in a 22 per cent price increase. Today, the bullish move looks poised to continue, with prices already up by a percentage point and looking likely to continue throughout the session.
Since its launch, the move-to-earn platform, STEPN, has continued to gain traction with its users. The platform has two tokens, its governance token, GMT, and a utility token known as Green Satoshi (GST). The tokens can be traded for Solana or the USDC stablecoin.
Part of the platform gained traction with users was early adopters’ sharing of the profits they were making. Some users even boasted of earning as much as $200 per day by exercising outside. It wasn’t long until the project caught on and became one of the leading platforms in the move-to-earn cryptocurrency niche.
However, despite starting strongly and having one of its best months in April, the crypto started going down in May, and the bearish trend continued into June.
GMT Price Prediction
In July, GMT prices are up by 8 per cent. The past three days have also been aggressively bullish, and today’s trading session looks poised to continue with the bullish trend.
Looking at the daily chart below, the price of GMT recently fell below the $0.85 support level. However, GMT failed to continue with the downward trend and instead started the current bullish level that resulted in prices moving back above the $0.85 price level. The current price action also gives strong bullish signals. Therefore, my GMT price prediction expects prices to continue rising. As a result, there is a high likelihood that we will see prices trading above $1 in the next few trading sessions.
On the flip side, if the prices return and trade below the support level, my bullish analysis will be invalidated. Such a price action will confirm that a bearish trend is still possible.