GMT Bulls Finally Back in Action After a Three-Week Correction, Targeting $0.26 Resistance

The last 24 hours saw GMT through its most volatile buying session after witnessing a three-week decline. Establishing base support above $0.12

GMT went through its most volatile buying session in the last 24 hours, after enduring three weeks of decline. It's now gaining serious traction on a daily scale, establishing base support above $0.12.

Among many other cryptocurrencies, GMT faced resistance earlier in the month as it struggled to reach $0.262. It later lost momentum and rolled to a low of $0.127, where it began to gain towards the end of last month.

That low level held well and the price bounced back yesterday. The crypto has since been gaining serious traction and is now floating at around $0.2 following an impressive surge in the last hours.

Things are currently looking positive on the daily scale as it slowly foots an increase. It's forming a bullish (double-bottom) pattern on the daily chart. A further surge could lead to a serious breakout.

The last 48-hour surge signals an end to the recent correction, though a rejection at $0.23 could cause a slight reduction. But from the looks of it, the bulls appear to be back in action on the daily chart.

We can expect a bigger price movement in the next few days amid rising demand, as the asset looks bullish on the hourly timeframe.

GMT's Key Level To Watch

Source: Tradingview

As the $0.127 level continues to hold as base support, we can expect the bulls to reclaim the monthly $0.26 resistance in the next few days. The $0.335 and $0.445 levels are higher resistance to watch for a break-up.

The close support levels for pullback are $0.173 and $0.145. Losing the mentioned base support could cause a serious dump to the $0.1 level.

Key Resistance Levels: $0.26, $0.335, $0.445

Key Support Levels: $0.173, $0.145, $0.127

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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