$GMT A bullish MACD cross suggests short-term upward momentum. However, earlier bearish crosses (April 14-16) on 1-hour charts indicate volatility, so confirmation with volume is critical.
Moving Averages:
50-Day SMA: ~$0.053449, slightly below the assumed $0.0576, suggesting the price may have crossed above this resistance, indicating potential short-term bullishness.
200-Day SMA: ~$0.112237, sloping downward, reflecting a weak long-term trend.
Analysis: If the price is indeed at $0.0576, it’s above the 50-day SMA, a bullish signal. However, the 200-day SMA at $0.112 remains a significant long-term resistance. A sustained move above $0.06 could confirm further upside.
Relative Strength Index (RSI):
Current RSI: ~41.70 (14-day, daily timeframe, based on $0.04647). At $0.0576, RSI would likely be closer to 50-60, indicating neutral to slightly bullish momentum.
Analysis: An RSI approaching 60 suggests growing buying pressure but not yet overbought (>70). RSI breaking above 70 on a 1-hour chart, supporting a short-term bullish breakout if the price reaches $0.0576.
Moving Average Convergence Divergence (MACD):
Indicate a bullish crossover on the 1-hour chart at $0.046, aligning with a potential move to $0.0576.
Support and Resistance Levels:
Support: $0.036 (recently tested, $0.0401-$0.0407 (key support zone).
Resistance: $0.04810-$0.04960 (recently breached if at $0.0576), $0.05430-$0.05545 (next resistance), $0.0953 (supply zone).
Analysis: At $0.0576, GMT has cleared the $0.048-$0.049 resistance, with $0.054-$0.055 as the next hurdle. A breakout above $0.06 could target $0.098, as suggested by some analysts. Failure to hold $0.048 could see a retest of $0.036.
Bullish Signals A breakout from a triangle and falling wedge, targeting $0.06 with a stop-loss at $0.0415, aligning with the $0.0576 scenario.
sees $0.036 support targeting $0.098.
Bearish Signals:A bearish patterns targeting $0.038-$0.039, indicating volatility selling pressure at $0.048-$0.049, now breached.
DYOR!!
#GMTUSDT
