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The GMT worth surged 27% within the final 24 hours to commerce at $0.19 as of 4.45 a.m. EST on buying and selling quantity that skyrocketed 762% to $672.41 million.
The GMT worth began surging yesterday, when its worth surged from $0.1338 as much as a resistance at $0.16. The resistance held it for 12 hours, just for the venture to lastly breach the barrier final night time at round 10.30 p.m. EST, and skyrocket to $0.18. Since then, the worth has been battling the resistance, solely to finally enterprise additional past to its present worth of $0.19.
Whereas the token initially traded towards the market, beginning its surge almost 24 hours earlier than the remainder of the crypto business, its present worth improve comes as a part of the broader market restoration. Bitcoin is main the surge with a rise of 1.2% within the final 24 hours, which introduced it to $98.7K per coin.
GMT Value Prediction
The GMT worth is skyrocketing sharply, which can characterize alternative for day merchants proper now, but it surely additionally makes it extraordinarily unstable because the token is certain to see a correction in the end.
Nonetheless, in the meanwhile, the worth surge is kind of steep and critical, which may be seen from a pointy widening of its Bollinger Bands, in addition to the truth that the worth is rising so shortly that it went past the higher band.
Prior to now a number of hours, it has largely fluctuated between the higher band and the center line between the 2 bands, suggesting total bullish sentiment amongst merchants. Now, the brand new surge is pumping it up quickly towards the resistance at $0.20.
The venture’s Relative Power Index (RSI), nevertheless, means that the surge could also be reduce quick comparatively quickly. The RSI, which additionally fluctuated between the impartial zone and the overbought space within the final 24 hours, has now ventured deep into the overbought zone. Its worth on the time of writing sits at 79.01, which can doubtless set off a sell-off as merchants rush in to take earnings.
For the second, neither the worth nor RSI are displaying indicators of this occurring, however the correction course of may begin pretty quickly. With that mentioned, anybody keen on becoming a member of the surge and shopping for GMT now ought to be cautious, and conscious of the heightened dangers of doing so.
Promising Various To GMT
As for many who are keen on much less dangerous options, they might think about becoming a member of a brand new viral meme coin presale known as Meme Index (MEMEX).
It is a new meme coin venture that launched 4 meme coin baskets, or indexes, for customers to speculate into and get rewards from them. The hampers are often known as the Titan index, Moonshot index, Midcap index, and Frenzy index. Every of them is getting progressively riskier, with the Titan index containing main, established meme cash which might be typically thought of reliable.
As such, the index is anticipated to have low volatility and to be the least dangerous of the 4. Moonshot index could have cash and tokens which have the potential to problem the highest 10 largest meme cash by market cap, so whereas barely riskier, they’re nonetheless thought of a comparatively protected funding.
In the meantime, the MidCap index will include meme cash with a market cap between $50m and $250m, and that is the place the dangers begin to develop considerably. Nonetheless, the potential reward does as properly. Lastly, the Frenzy index could have experimental and new trending initiatives, however with little to no certainty. It will likely be a high-risk, high-reward basket that shouldn’t be approached flippantly.
All of those indices will change into accessible later, after the venture concludes its ICO which is at the moment providing its native token MEMEX for under $0.014687 per unit. To this point, the ICO has already raised over $582K and is quickly surging towards its first million. So, whether or not you have an interest within the indices or the MEMEX token itself, proper now’s the perfect time to speculate, whereas its worth remains to be low.
It’s also price noting that crypto consultants corresponding to ClayBro, a YouTuber with over 134K subscribers, consider that MEMEX has huge potential and that it may doubtlessly convey 60X returns. Due to this fact, think about becoming a member of its ICO quickly in case your analysis suggests the identical.
Go to MEMEX’s official web site.
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