GameStop reached $0.01976700, marking its highest level since February 6th, with a remarkable surge of over 4,000% from this year's low.
Despite the Bulls failing to maintain the gains, the price undergoes an 82% drop from its peak, reaching a low near $0.00353539.
Short covering activity is observed at lower levels and from the 100 EMA (4-hour), leading to a 120% price increase from the lows, as well as a rebound from the 50 EMA (4-hour).
The GME coin demonstrates robust bullish price action in the crypto market, rewarding investors with a 50% return.
If the hype surrounding memecoins intensifies, market bulls will likely aim to propel the GME price towards its upper resistance level of $0.02000000 by month-end.
According to Coin Gabbar analysis, Conversely, if selling pressure on memecoins rises, the GameStop price may retreat towards its critical support level of $0.00250000 in the near future.
KEY LEVELS :
RESISTANCE LEVEL : $0.01050000-$0.01500000
SUPPORT LEVEL : $0.00550000-$0.00250000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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