Skip to main content

Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade Higher

Following a short-lived move above $4.50 on Wednesday, GMT was once again higher, and traded up by over 20% in today’s session. GRT was another big gainer in Thursday’s session, as it moved to a multi-week high, whilst CAKE rebounded after recent losses.

The Graph (GRT)

Newly formed GMT was undoubtedly today’s top gainer, climbing by over 20%, however due to its infancy in the markets, there is not enough history to support a true technical view of its price movement.

However, another token with similar initials also conjured up double-digit gains on Thursday, and that is in fact GRT.

GRT/USD rose to an intraday high of $0.4084 during today’s session, which saw its price up by over 11% earlier in the day.

This peak follows on from a low of $0.3472 on Wednesday, which was close to its long-term support level of $0.3410.

Bulls have since carried prices from support to a now resistance level of $0.4040, which has now held, as earlier gains have eased.

GRT is now trading at $0.3779, whilst the 14-day RSI is also hovering below its own ceiling of 50.13, which could be the main obstacle preventing price from climbing back above $0.4000.

Pancakeswap (CAKE)

CAKE rebounded from a recent multi-week low on Thursday, as bulls seemed to have re-entered, following Tuesday’s engulfing bear candle.

As of writing, CAKE/USD hit a peak of $8.37 earlier in the day, as prices moved away from a recent support level.

This floor was at $7.40, and comes after a marginal breakout, which took price to a one-month low of $7.38 on Wednesday.

Since then, CAKE now looks to be heading for resistance of $9.40, as prices continue to consolidate after a month of market uncertainty.

In order to get towards this resistance, CAKE will first have to overcome the 48 level on the RSI, which looks as if it may be a ceiling.

Should this happen, some bulls may well be looking toward the $10.00 mark as a potential price target.

Will we see an extension of today’s GRT surge as we head into the weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/DhukLYJ

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...