If you look at the performance of STEPN for the past 30-days, you will see it mainly filled with reds. Throughout the period, the trading price of STEPN continued experiencing a downtrend. Its price kept dipping but finally, it seems that STEPN’s price may rebound for good.
The prediction of STEPN’s rise is based on the assumption that the selling trend may be facing exhaustion. It has gone on for such a long time that STEPN has finally started to move towards the rebound phase.
Rebound Experienced by STEPN
A look at STEPN’s price trend shows that its trading price has experienced a rebound. According to the performance in the past 24-hours, STEPN has experienced an almost 35% price rebound. On May 27, STEPN’s price was at $0.80 and after the rebound, STEPN climbed up to $0.99, witnessed on May 28.
One of the most remarkable aspects of the rebound is that STEPN has experienced a rebound at the same level in the past as well. In the past, the same mark had acted as a strong support level for STEPN.
These were exactly the same marks from where STEPN experienced its huge rallies. Back in March of 2022, STEPN experienced a 500% rally at this mark. Similarly, STEPN recorded a 120% rally at the beginning of May.
It was the same level from where STEPN rose to its all-time high of $4.50 on April 27, before retreating from such a high process. It was indeed the overselling of GMT at this mark that led to bringing it to such a low trading level.
Price Levels to be observed for GMT
The retracement graph of Fibonacci is strongly suggesting that in case the trend becomes bearish, then GMT may move down to $0.82. On the other hand, if the trend becomes bullish, then GMT may trade at a high of $1.50.
If the bears keep retesting the price of GMT, then it may end up plunging to $0.71. This won’t be the only time the bears may try and pull GMT lower. They will continue selling GMT and create enough void to bring GMT lower to the $0.54 per GMT mark.
Then comes the bullish prediction for GMT. It suggests that in case the bulls keep bashing the bears out, then its price may continue surging. In this particular case, the trading price of GMT may row up to $2. If the momentum keeps building from the bulls’ end and they keep buying GMT to show for it, then the trading price of the digital asset may take off.
With the momentum constantly rising, the trading price of GMT may surge to $2.50.