Strong technical analysis of the $GMT coin, should I buy now or wait?
I present the technical analysis of the digital currency GMT/USDT as follows:
1. Support points:
First support: 0.1701
Second support: 0.1266
2. Resistance points:
First resistance: 0.2204
Second resistance: 0.2639
3. Current trend:
The currency is in a correction after a clear upward wave, but is still within a bearish range in the medium term.
4. Buying:
Initial buying if the price reaches 0.1700 with risk management.
The buying can be reinforced if it stabilizes above the 0.2200 resistance steadily.
5. Targets:
First target: 0.2200
Second target: 0.2630
6. Caution:
In case of breaking 0.1700 down, the price may head towards 0.1260.
For stop loss, it is preferable to place it below the nearby support points while taking into account risk management. Based on the analysis:
If you buy at 0.1700, place a stop loss order at 0.1650.
If you buy when the resistance 0.2200 is broken, place a stop loss order at 0.2100.