• StepN’s GMT token is close to its multi-month high but may be threatened by a market adjustment.
• The current price of GMT is 7.85% lower than the 24 hours prior and appears poised to remain close to its short-term moving average indicators.
• Potential rejuvenation in the GameFi and NFT space, coupled with improved market conditions, could spark a recovery for GMT.
GMT Price Prediction
StepN’s GMT token is looking to break multi-month highs after a strong showing in recent weeks. However, with the market entering another weekend and gains under threat, what are the asset’s prospects going forward?
On Friday, the crypto market experienced a bit of a rally adjustment. After an impressive 24 hours in which major altcoins regained some of their milestone points, and the overall market capitalization surpassed $1.05 trillion, prices appear poised for another adjustment as the rally cooled into the early hours of the day. As expected, the price of StepN’s GMT token has followed this trend significantly. Trading at $0.05947, GMT is down by 7.85% in the past 24 hours – a drop that is steeper than the broader market’s 0.5% decline.
Despite the price drop, GMT isn’t doing so badly on the technical front. The digital asset is trading close to its short-term moving average (MA) indicators, with the 10-day MA standing at $0.06006 and its price ahead of its long-term MA metrics; GM is still looking quite solid with a negative moving average convergence divergence (ACD) showing that it is giving off a buy signal, and an RSI value of 36.57 indicating that it isn’t overbought yet either .
Rejuvenating GameFi & NFT Spaces
StepN is a lifestyle and health management platform that incentivizes users to get more active by rewarding them with GMT tokens for completing workouts or other activities on their platform.. With investors having renewed faith that a broader market rally can spark a recovery in activity for these markets segments such as GameFi or Non Fungible Tokens (NFTs), many are hoping they will find projects that can deliver impressive gains through backing them up financially or otherwise – thus pushing up demand for StepN’s tokens accordingly .
CPI Numbers & Inflation
Consumer Price Index (CPI) numbers reported earlier this month showed that inflation has dropped in United States; while earlier this week Central Banks signaled they would hold off on further rate hikes due to low inflationary pressure . These developments have shown promise for investors who seek stability from potential monetary policies as well as those who hope for increased liquidity from stimulus packages – both indications which could potentially lead to further appreciation of assets such as StepN’s GMT token going forward .