GateToken Price Analysis: Will GT Retest $4.55 Level?


  • GT/USD trades near $3.54.
  • 24-hour trading volume for GateToken is hovering at $2,249,289.00.
  • Support for the bears has been established at $4.26
  • GateToken’s EMA(10) shows a downward trend.

07 December 2022 : 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 $841,249,908,237. The total trading volume stands at $38,717,458,714. Bitcoin shares 38.53 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,856.37 level after a decline of -0.83%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.91 percent reaching to $1,231.99 during the previous 24 hours.
While publishing this blog, BNB traded at $284.45, following a price change of -1.59%within the same time frame. XRP the native coin of XRP is down by -1.55 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.59% 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 Price Analysis Market Index, GateToken (GT) is trading at $3.54 with a trading volume of $2,249,289.00. However,GT has a price decline of -2.57% in the last 24 hours.GT price changes -2.73% over the week with a total market capitalization of $383,784,299.00 USD.

GateToken Price Analysis

GT price analysis for 07 December 2022 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 Sell
Exponential Moving Average (10) 4.41 Sell
Simple Moving Average (20) 4.37 Sell
Exponential Moving Average (20) 4.38 Sell
Simple Moving Average (50) 4.28 Sell
Exponential Moving Average (50) 4.28 Sell

The GateToken has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take GT price below the crucial support level of $4.26. 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 negative trend for some time and it seems that the coin's recuperation will continue as long as it remains in the reddish area. You should only acquire crypto right now if you're prepared to hold it through the ups and downs of the crypto market.