Binance Chart Analysis: $GMT /USDC

This chart shows a clear downtrend with a recent attempt at a bounce.

* Downtrend: The price is trading below all the major moving averages (MA7, MA25, MA99), indicating a strong bearish sentiment.

* Recent Bounce: The price has bounced off the recent low of 0.0418. This could be a temporary relief bounce or a sign of a potential reversal.

* Resistance: The price is facing resistance from the moving averages. A break above the MA7 and MA25 would be the first sign of a potential trend change.

The overall trend is bearish. A move above the moving averages is needed to confirm a reversal. Until then, the downtrend is likely to continue.

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