In the last four hours, GFT/USDT has exhibited notable price action, showcasing both volatility and opportunity for traders. Starting at a relatively stable point, the pair experienced a sharp upward movement, reaching new highs before encountering resistance. This surge has been characterized by increased trading volume, indicating strong market interest and potential bullish sentiment.
The price initially rallied from $0.78 to a peak of $0.85, demonstrating a robust 8.9% gain. However, this uptrend was met with some selling pressure, leading to a retracement back to around $0.80. The recent high of $0.85 is crucial as it represents a significant resistance level; a sustained break above this could indicate further bullish momentum.
Technical indicators are showing mixed signals. The Relative Strength Index (RSI) is approaching overbought territory, suggesting caution. Conversely, the Moving Average Convergence Divergence (MACD) remains bullish, supporting the potential for continued upward movement.
Traders should watch for key support levels around $0.78 and resistance near $0.85. Monitoring volume trends and price patterns in the coming hours will be essential to gauge whether GFT/USDT can maintain its upward trajectory or if a reversal is imminent.
