GateToken Price Analysis: Will GT Retest $4.55 Level?


  • GT/USD trades near $10.64.
  • 24-hour trading volume for GateToken is hovering at $43,560,184.00.
  • Support for the bears has been established at $4.26
  • GateToken’s EMA(10) shows a upward trend.

19 April 2024 : In this article we will walk you through GateToken price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for GateToken, Is GT a good investment? GateToken support & resistance levels etc. But before diving deep into the GT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,335,417,324,169. The total trading volume stands at $110,815,993,845. Bitcoin shares 54.1 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,195.30 level after an upward movement of 1.42%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.94 percent reaching to $3,088.06 during the previous 24 hours.
While publishing this blog, BNB traded at $559.86, following a price change of 1.98% within the same time frame. SOL the native coin of Solana is up by 3.04 and currently trading at $144.55. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

GateToken Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of GateToken (GT)

GT Resistance Levels GT Support Levels
Resistance Level 1 $4.55 Support Level 1 $4.26
Resistance Level 2 $4.69 Support Level 2 $4.10
Resistance Level 3 $4.84 Support Level 3 $3.97

GateToken Performance

According to PriceAnalysis Market Index, GateToken (GT) is trading at $10.64 with a trading volume of $43,560,184.00. However,GT has seen a price increase of 8.22% in the last 24 hours.GT price changes 46.33% over the week with a total market capitalization of $1,026,476,206.00 USD.

GateToken Price Analysis

GT price analysis for 19 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the GateToken.

Moving Averages Price Indicator
Simple Moving Average (10) 4.40 Buy
Exponential Moving Average (10) 4.41 Buy
Simple Moving Average (20) 4.37 Buy
Exponential Moving Average (20) 4.38 Buy
Simple Moving Average (50) 4.28 Buy
Exponential Moving Average (50) 4.28 Buy

The MACD line is standing above of the signal line after a positive crossover. GateToken investors need to wait for any directional change over the daily chart. While GT’s Williams %R indicator is at -22.526 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The relative Strength Index (RSI) indicates that the GT coin is in heading towards overbought zone, as RSI is at 63.

Conclusions

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.