Price: $22
Analysis: GateToken (GT) is currently trading at $22, consolidating near a critical resistance zone at $22.8466, as identified on recent TradingView charts. The 4-hour chart shows an inverse head and shoulders pattern, with the neckline broken at $22, signaling potential bullish momentum. The 50-period Simple Moving Average (SMA) at ~$21.50 provides dynamic support, aligning with the 50-day SMA of $18.19, indicating a strong intermediate-term trend. The Relative Strength Index (RSI) on the 14-day timeframe is neutral at 50, suggesting room for upward movement without overbought conditions. Volume analysis shows a slight uptick, supporting the breakout thesis. If GT clears $22.8466, the next target is the January 2025 all-time high of $25.94, with a potential extension to $26.2654 in a bullish 2025 scenario. However, a failure to break $22.8466 could see GT retest support at $19.4223. Traders should watch for a daily close above $22.8466 with increased volume to confirm the breakout.
Analysis: GateToken (GT) is currently trading at $22, consolidating near a critical resistance zone at $22.8466, as identified on recent TradingView charts. The 4-hour chart shows an inverse head and shoulders pattern, with the neckline broken at $22, signaling potential bullish momentum. The 50-period Simple Moving Average (SMA) at ~$21.50 provides dynamic support, aligning with the 50-day SMA of $18.19, indicating a strong intermediate-term trend. The Relative Strength Index (RSI) on the 14-day timeframe is neutral at 50, suggesting room for upward movement without overbought conditions. Volume analysis shows a slight uptick, supporting the breakout thesis. If GT clears $22.8466, the next target is the January 2025 all-time high of $25.94, with a potential extension to $26.2654 in a bullish 2025 scenario. However, a failure to break $22.8466 could see GT retest support at $19.4223. Traders should watch for a daily close above $22.8466 with increased volume to confirm the breakout.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.