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• • Witnessed $GTC a 77% increase around August 13, followed by a 16% correction

• • Currently trading at $0.3839 with a daily volume of $175.3 million (up 122.87% from June's low)

• • A strong bearish pattern forming as the Relative Strength Index (RSI) reached oversold levels (~30) during August 10-11

• • A key support level established at $0.297-0.296 with significant volume spikes during sell pressure periods

Market drivers

• • Gitcoin's strategic decision to close the Labs division and focus solely on the Grants program

• • Technical exhaustion after the rapid rise has led to overbought conditions

• • Broader European regulatory developments (compliance with MiCA) are shifting investor focus

• • Volume analysis shows aggressive selling during specific trading hours (08:00, 14:45 Eastern Time)

Trading forecasts

• • The key barrier at $0.300 needs to be reclaimed to reverse the bearish momentum

• • Continued breakdown below the $0.297 level could trigger further decline towards support at $0.283

• • Dollar-cost averaging can be considered with stop-loss orders near recent lows to manage risk

Community sentiment trends

• • Mixed reactions to Gitcoin's restructuring in community discussions

• • Some analysts expect a retest of the $0.319 level if current support holds

• • Traders emphasize monitoring on-chain metrics to confirm market direction

• • The community is divided between the possibility of a technical bounce and concerns about fundamentals#GTC #Binance #GTC2025 #BitcoinDunyamiz #TrendingTopic $GTC