As of February 2, 2025, GMT is trading at approximately $0.086, reflecting a 9.5% decrease over the past 24 hours.
Technical Analysis:
Recent price movements indicate a bearish trend, with GMT experiencing a 14.7% decline over the past week and a 31.5% drop in the last 14 days. The current price is significantly below the 50-day moving average, suggesting continued downward momentum.
Entry and Stop-Loss Recommendations:
Entry Point: Traders might consider entering a position if GMT's price breaks above the immediate resistance level of $0.1158, indicating a potential reversal.
Stop-Loss: To manage risk, setting a stop-loss order below the recent support level at $0.0854 is advisable.
Conclusion:
Given the prevailing bearish indicators, caution is warranted. Monitoring key support and resistance levels is essential for informed decision-making. Always employ risk management strategies and stay updated with market developments.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency markets are highly volatile; always conduct your own research before making investment decisions.
