STEPN Kickstarts Gamers’ Interest As GMT Capitalizes On Bullish Retracement
And the game is on for STEPN as the GMT token plays in sync with other cryptocurrencies amplified for the bull run. In the past couple of weeks, STEPN has been making upgrades on its network to rekindle the waning interest of gamers. And the token seems to be making a lot of progress.
The move-to-earn game has recently rolled out Health Points that set a certain life cycle for STEPN sneakers. They also were brewing an exciting STEPNrun Contest that is scheduled to kick off from July 25 to August 8 which is meant to get the word out about STEPN on social media. The contest is designed to run on both Instagram and Twitter.
GMT Token Price Warms Up At $1.01
The GMT token price is currently at $1.01 and is forecasted to take off in the past couple of days. It looks like STEPN is just warming up at this point with its recent updates.
When the contest was launched, GMT tokens gained support and advanced to $0.92. The GMT price has since then remarkably increased by 4% as seen in the past few days.
Alongside the GMT price growth, trading volume also surged for the same period. GMT’s trading volume has spiked by over 25% or at 492.16 million as of this writing. It only took a couple of days for the token to gain some traction. Additionally, GMT’s total token’s market cap has also jumped to $606.36 million from $553.76 million.
With the prices still showing an upward trend overnight, CoinMarketCap showed a 4.12% spike in STEPN’s GMT price in the last 24 hours.
STEPN’s GMT Token Set To Go Bullish In Coming Days
Meanwhile, STEPN’s GMT token seems to be hovering towards the overbought domain as seen on the 4-hour chat with the Money Flow Index or MFI at 74.02. Moreover, the token’s RSI was also spotted at 59.63.
On the other hand, GMT’s social dominance has lagged behind by 23%. Its social volume also declined by 67% as seen in the past couple of days. The token is seen to be moderately volatile or on the average when pitted against other cryptocurrencies.
With that being said, STEPN is currently in the top 43% of cryptocurrencies in terms of volatility.
STEPN’s GMT price is geared for an uptrend. With resistance at $1.03 and support found at $0.935037596620583, this sets up STEPN to go for a bullish movement before it faces hurdles from selling pressures.
Crypto total market cap at $1.06 trillion on the daily chart | Source: TradingView.com
Featured image from Atomic Wallet, chart from TradingView.com
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