- GateToken (GT) price slid 1.55% on the past day and currently trading at $4.26
- GateToken’s (GT) all-time high price is $13.09 (2 Years ago) and its all-time low price is $0.026 (3 years ago)
GateChain is a blockchain for asset safety and transfer. Its token is GateToken (GT), which pays fees and stakes for rewards. GateChain has an on-chain wallet for direct asset management and supports Ethereum smart contracts via EVM.
GateToken’s price is currently trading at $4.26 with a decline of 1.55% in the past 24 hours. According to coinmarketcap data, GateToken cryptocurrency holds a total market cap of $416.47 Million and ranks at 89th position in the crypto market. It has received $881.5K volume in the past 24 hours which is 23.27% more than the previous day. Also, It has over 97.7 Million circulating supply which is 29% of the total supply. The volume to market cap ratio of GT coin is 0.21% which indicates very low volatility in the market.
Gate Token Price Prediction Using Price Action Strategy
As per the price prediction of Gate Token cryptocurrency in the weekly timeframe, It was observed that the price was in a correction phase till December 2022. Afterward, the Price made a rebound from the demand zone and surged by 85% from the swing low thus changing its character from a long-term downtrend to an Uptrend.
Moving over to the daily chart, GT price is in a short-term correction phase with Trendline as a resistance. The price is taking pullbacks by forming lower highs and lower lows.
Currently, Gate Token Price has got support from the previous breakout zone and bounced back by almost 15%. The price is trying to sustain near the trendline resistance and from higher lows which indicates the end of the correction phase. Now if the price can break and sustain above the Trendline resistance then it will result in a short-term trend shift in the market and prices may hike up to $5 and $5.7. However, Gate Token needs more buyers to sustain the lower levels and make a shift in the short-term trend.
Indicator Analysis
As Per the EMA analysis, GT’s price is above 20 EMA and below other EMA which shows the short-term interest of buyers in the market. however, Gate Token has to surpass the hurdles of other EMAs to change its trend.
At the time of publishing, the RSI value of Gate Token is 47.41 and that of the SMA line is 51.9. RSI is headed upwards by forming higher lows which indicate short-term bullish sentiment is being built up. however, RSI has failed to take support from the SMA line.
MACD lines have made a bullish crossover and currently trying to surpass the hurdle of the Mean line however histogram bars seem to be disappearing from the mean line which shows bulls lack momentum.
Conclusion
Gate Token (GT) coin price prediction concludes that the price seemed to be in a short-term correction phase after a hike in the price by 85%. However, Current price action and indicators point toward the end of the correction phase. But the price seems to lack momentum. hence, more buyers need to accumulate at lower levels. Now, if the price is able to break and sustain above trendline resistance then the price may skyrocket soon to form a new high.
Technical levels
- The support levels at $3.8 and $3.3
- The resistance levels at $4.9 and $5.63
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
