STEPN (GMT) Price Prediction 2023 — Will GMT Hit $1 Soon?
- Bullish GMT price prediction for 2023 is $0.2957 to $0.4022.
- STEPN (GMT) price might reach $1 soon.
- Bearish GMT price prediction for 2023 is $0.1739
In STEPN (GMT) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about GMT to analyze the future movement of the cryptocurrency.
STEPN (GMT) Current Market Status
| Current Price | $0.2419 |
| 24 – Hour Trading Volume | $302,872,082 |
| 24 – Hour Price Change | 6.66% down |
| Circulating Supply | 1,104,192,453 GMT |
| All – Time High | $4.11 (on Apr 28, 2022) |
What is STEPN (GMT)?
STEPN (GMT) is the governance token of STEPN. STEPN is a move-to-earn (M2E) NFT game built on top of the Solana blockchain. This web3 lifestyle app was created by the Australian firm, FindSatoshiLabs and launched in late 2021.
STEPN uses a dual token model: Green Metaverse Token (GMT) and Green Satoshi Token (GST). GMT serves as the governance token whereas GST is used for purchasing the in-game elements such as STEPN’s famous NFT Sneakers. Notably, STEPN enables users to earn cryptos for running, walking, or jogging.
STEPN (GMT) Price Prediction 2023
STEPN (GMT) ranks 115th on CoinMarketCap in terms of its market capitalization. The overview of the STEPN price prediction for 2023 is explained below with a daily time frame.
GMT/USDT Descending Channel Pattern (Source: Tradingview)
In the above chart, STEPN (GMT) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of the STEPN (GMT) was recorded at $0.2419. If the pattern trend continues, the price of GMT might reach the resistance levels of $0.2905, $0.5091, and $0.6562. If the trend reverses, then the price of GMT may fall to the support of $0.1834.
STEPN (GMT) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of STEPN (GMT) in 2023.
GMT/USDT Resistance and Support Levels (Source: Tradingview)
From the above chart, we can analyze and identify the following as the resistance and support levels of STEPN (GMT) for 2023.
| Resistance Level 1 | $0.2957 |
| Resistance Level 2 | $0.4022 |
| Support Level 1 | $0.2246 |
| Support Level 2 | $0.1739 |
As per the above analysis, if STEPN’s (GMT) bulls take the lead, it might hit and break through its resistance level of $0.4022.
Conversely, if STEPN’s (GMT) bears dominate the trend, the price of GMT might plunge to $0.1739.
STEPN (GMT) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of STEPN (GMT) are shown in the chart below.
GMT/USDT RVOL, MA, RSI (Source: Tradingview)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. The resulting ratio is known as the “relative volume,” which can help traders identify unusual trading activity and changes in market sentiment.
High relative volume readings suggest that there is increased interest in the asset, which may indicate a potential trend reversal or breakout. Conversely, low relative volume readings may indicate a lack of interest or a consolidation period.
At the time of analysis, the RVOL of STEPN (GMT) was below the cutoff line, denoting weak participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above its 50MA, it is considered to be in an uptrend (bullish), if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the GMT price lies above 50 MA (short-term), indicating its upward trend. Hence, it can be concluded that GMT is in a bullish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). This analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value is expressed as a number between 0 and 100, with readings above 70 indicating an overbought state and readings below 30 indicating an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the direction of a trend. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI reaches an oversold reading of 30, it may suggest that the asset could potentially reverse direction.
Markedly, during analysis, the RSI of GMT is at 68.21. This denotes that GMT is in nearly overbought state.
STEPN (GMT) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of STEPN (GMT) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
GMT/USDT ADX, RVI (Source: Tradingview)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of GMT lies in the range of 24.2665 pointing out a weak trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of GMT lies above 50, indicating high volatility.
Comparison of GMT with BTC, ETH
Let us now compare the price movements of STEPN (GMT) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs GMT Price Comparison (Source: Tradingview)
From the above chart, we can interpret that the price action of GMT is similar to BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of GMT also increases or decreases respectively.
STEPN (GMT) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, Let us predict the price of STEPN (GMT) between 2024 and 2030.
STEPN (GMT) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then STEPN (GMT) might successfully test and surpass its resistance levels to hit $1.6 by 2024.
STEPN (GMT) Price Prediction 2025
The significant upgrades in the STEPN ecosystem might persuade the entry of an increased number of investors. This may eventually boost the STEPN (GMT) price to reach $1.7 by 2025.
STEPN (GMT) Price Prediction 2026
If STEPN (GMT) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $1.8.
STEPN (GMT) Price Prediction 2027
STEPN (GMT) might sustain major resistance levels and continue to be recognized as a good investment option. If it stands so in the market, GMT would rally to hit $1.9.
STEPN (GMT) Price Prediction 2028
If STEPN (GMT) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, GMT would hit $2 by 2028.
STEPN (GMT) Price Prediction 2029
If investors flock in and continue to place their bets on STEPN (GMT), then the crypto would witness major spikes. Hence, GMT might hit $2.1 by 2029.
STEPN (GMT) Price Prediction 2030
If the trend momentum aligns in favor of STEPN, then the GMT price is expected to rally to $2.2 by 2023. Furthermore, GMT would hold a positive market sentiment and be recognized as a long-term investment with highly profitable ROI.
Conclusion
If STEPN (GMT) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish STEPN (GMT) price prediction for 2023 is $0.4022. Relatively, the bearish STEPN (GMT) price prediction for 2023 is $0.1739.
If there is a positive elevation in the market momentum and investors’ sentiment, STEPN (GMT) might hit $1. With future upgrades and advancements in the STEPN ecosystem, GMT might surpass its current all-time high (ATH) of $4.11 on November 21, 2021 and mark its new ATH.
FAQ
1. What is STEPN (GMT) ?
STEPN (GMT) is the governance token of STEPN. STEPN is a move-to-earn (M2E) NFT game built on top of the Solana blockchain.
2. Where can you buy a STEPN (GMT)?
Traders can trade STEPN (GMT) on the following cryptocurrency exchanges such as Binance, Deepcoin, CoinW, Bybit, and Bitrue.
3. Will STEPN (GMT) record a new ATH soon?
With the ongoing developments and upgrades within the STEPN platform, STEPN (GMT) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of STEPN (GMT)?
STEPN (GMT) hit its current all-time high (ATH) of $4.11 On April 28, 2022.
5. What is the lowest price of STEPN (GMT)?
According to CoinMarketCap, GMT hit its all-time low (ATL) of $0.1003 on March 11, 2022.
6. Will STEPN (GMT) hit $1?
If STEPN (GMT) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon.
7. What will be the STEPN (GMT) price by 2024?
STEPN (GMT) price might reach $1.6 by 2024.
8. What will be the STEPN (GMT) price by 2025?
STEPN (GMT) price might reach $1.7 by 2025.
9. What will be the STEPN (GMT) price by 2026?
STEPN (GMT) price might reach $1.8 by 2026.
10. What will be the STEPN (GMT) price by 2027?
STEPN (GMT) price might reach $1.9 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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