Analysis:
At $21.5, GateToken (GT) is showing signs of a potential short-term correction after a strong rally from $17.72. The weekly chart indicates GT is trading above its 50-day SMA ($21.37) and 200-day SMA ($14.31), confirming a long-term bullish trend. However, the 14-day RSI at 78 on the weekly timeframe signals overbought conditions, and a bearish divergence is forming as the price makes higher highs while RSI trends lower. This suggests weakening momentum, increasing the likelihood of a pullback.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover, but the histogram is narrowing, indicating slowing upward momentum. Support levels based on the classical pivot points are at $19.95 and $18.74, with the latter aligning with the 50-day SMA. Resistance remains at $22.67, with a break above potentially targeting $24.19. The Average True Range (ATR) at 0.645 suggests high volatility, which could lead Important Disclaimer: Past performance is not an indicator of future results.
Outlook: GT’s overbought RSI and bearish divergence suggest a correction toward $19.95 or $18.74 is possible in the near term. Long-term bulls may view dips as buying opportunities, given GT’s strong fundamentals and Gate.io’s ecosystem growth. Short-term traders should monitor the RSI and MACD for reversal signals. A break below $18.74 could see GT test $17.23, while a close above $22.67 may reignite bullish momentum toward $25.39. Always conduct your own research before trading.
At $21.5, GateToken (GT) is showing signs of a potential short-term correction after a strong rally from $17.72. The weekly chart indicates GT is trading above its 50-day SMA ($21.37) and 200-day SMA ($14.31), confirming a long-term bullish trend. However, the 14-day RSI at 78 on the weekly timeframe signals overbought conditions, and a bearish divergence is forming as the price makes higher highs while RSI trends lower. This suggests weakening momentum, increasing the likelihood of a pullback.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover, but the histogram is narrowing, indicating slowing upward momentum. Support levels based on the classical pivot points are at $19.95 and $18.74, with the latter aligning with the 50-day SMA. Resistance remains at $22.67, with a break above potentially targeting $24.19. The Average True Range (ATR) at 0.645 suggests high volatility, which could lead Important Disclaimer: Past performance is not an indicator of future results.
Outlook: GT’s overbought RSI and bearish divergence suggest a correction toward $19.95 or $18.74 is possible in the near term. Long-term bulls may view dips as buying opportunities, given GT’s strong fundamentals and Gate.io’s ecosystem growth. Short-term traders should monitor the RSI and MACD for reversal signals. A break below $18.74 could see GT test $17.23, while a close above $22.67 may reignite bullish momentum toward $25.39. Always conduct your own research before trading.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.