STEPN Price Analysis: GMT Plunge -6.45%, How Low Will It Drop?


  • GMT rose 21.99% in seven days.
  • Bears control GMT’s current price actions.
  • 24-hour trading volume for STEPN is hovering at $315,095,195.00.
  • Current STEPN Price is 0.32 dollars

29 February 2024 : In this article we will walk you through STEPN price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for STEPN, Is GMT a good investment? STEPN support & resistance levels etc. But before diving deep into the GMT 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 $2,307,016,330,634. The total trading volume stands at $156,125,550,326. Bitcoin shares 52.96 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $62,240.87 level after an upward movement of 3.7%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 4.68 percent reaching to $3,414.69 during the previous 24 hours.
While publishing this blog, BNB traded at $406.36, following a price change of 0.01% within the same time frame. SOL the native coin of Solana is up by 18.55 and currently trading at $131.27. Additionally, XRP reached $0.61 after seeing a uplift of 8.53% 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.

STEPN 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 STEPN (GMT)

GMT Resistance Levels GMT Support Levels
Resistance Level 1 $0.65 Support Level 1 $0.54
Resistance Level 2 $0.70 Support Level 2 $0.48
Resistance Level 3 $0.75 Support Level 3 $0.43

STEPN Performance

The price of STEPN (GMT) is at $0.32, down -6.45% in the past 24-hours and has a price change of 21.99% over the week. One day trading volume for BTC is 315,095,195.00 USD while total marketcap reached $445,935,315.00 USD. There are almost 1,385,950,707 are in circulation out of 5369650737.

STEPN Price Analysis

GMT price analysis for 29 February 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 STEPN.

Moving Averages Price Indicator
Simple Moving Average (10) 0.60 Sell
Exponential Moving Average (10) 0.60 Sell
Simple Moving Average (20) 0.62 Sell
Exponential Moving Average (20) 0.62 Sell
Simple Moving Average (50) 0.65 Sell
Exponential Moving Average (50) 0.65 Sell

The relative Strength Index (RSI) indicates that the GMT coin is near oversold zone, as RSI is at 37. While GMT’s Williams %R indicator is at -59.38 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. STEPN investors need to wait for any directional change over the daily chart. The STEPN 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 GMT price below the crucial support level of $0.54.

Conclusions

STEPN has few recovery chances and might continue testing immediate resistance level of $0.65 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep GMT investors hopeful.