STEPN rebounds sharply after falling 80% in a month — is GMT price bottoming out?

Cointelegraph

Published May 28, 2022 10:33AM ET

Updated May 29, 2022 01:00PM ET

A massive downtrend in the STEPN (GMT) prices witnessed in the last 30 days appears to be nearing exhaustion.

GMT’s price has rebounded by nearly 35% — from $0.80 on May 27 to $0.99 on May 28. Interestingly, the upside retracement started after the price fell in the same range, which had acted as support before GMT’s 500% and 120% price rallies in March and early May, respectively.

GMT/USD daily price chart. Source: TradingView
GMT/USD daily price chart featuring Fib support/resistance levels. Source: TradingView
GMT/USD and BTC/USD daily correlation coefficient. Source: TradingView
GST/USD daily price chart. Source: TradingView

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