StepN GMT Prices Rise: Will These Gains Hold?

StepN's Green Metaverse Token formed a divine candle on Friday, making it one of the best performing cryptocurrencies.

step n (GMT) The price rose 50%, reaching an intraday high of $0.2275, the highest level since December 9.

This rebound occurred as it did with Bitcoin and other altcoins Virtual protocol, Fartcoin, Hyperliquid and Raydium prices rose by double digits.

There was no immediate news that pushed the currency price higher. The likely reason for this increase is the number of StepN users It rose to 97This is its highest level since December 30. These users are still well below last month's high.

StepN has gathered users
Accumulated users StepN | source: Sand dunes

StepN's rise occurred just weeks after the developers expanded a partnership with Adidas, the popular sportswear company. The two companies agreed to this Providing 1,200 limited edition sneakers Available to NFT holders.

Another possible reason for the rise in GMT price is the lack of liquidity in the market due to the Christmas holidays. In such periods, it is usually easier to deal with cryptocurrencies with low volume.

StepN stock is also likely to rise due to South Korean traders. according to CoinMarketCapMost of the GMT trading volume was at Upbit, which handled more than $311 million in trading volume on Friday, representing a 25% market share. Binance and Bybit followed, transacting $219 million and $27 million, respectively.

StepN was one of the most famous players in the cryptocurrency industry as it introduced the concept of going to make money. Users purchased sneaker NFTs and were rewarded for doing simple tasks like walking and running. "Like others"to earnHowever, its success was short-lived as its use declined.

Price analysis in GMT

GMT price
GMT chart | source: crypto.news

The daily chart shows that GMT price formed a God candle on Friday, rising to a high of $0.2275. This rally occurred after the coin found significant support along an upward trend line connecting the lowest volatility since August last year. It is common for assets to move parabolic after reaching a critical support level.

GMT rose above the 23.6% Fibonacci retracement level and the 50-day moving average. It also moved to the top of the trading range for Murrey Math Lines. Therefore, these gains may be limited as there is no major news that led to its rebound. If this happens, the symbol will likely retest the strong pivot reversal level at $0.15.



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