STEPN GMT - 77% crash is imminent! | Bearish channel
- The price action on the GMT token is terrible. Since the peak in April 2022, the bulls have disappeared and the price is going down pretty quickly!
- I expect a 77% crash in the immediate short term. If you like this coin, you can definitely buy it for a cheaper price in the future, but for now, I would stay away.
- As you can clearly see, we are trending in this massive descending parallel channel on the daily timeframe , and it's really possible that we are going to touch the channel at the downward trendline.
- According to my Elliott Wave analysis, we need to complete an ABC correction before the start of a new bull market. We started with a strong impulse wave in 2022, which gives us hope for much higher prices in the future.
- I think STEPN is a great brand, but as I said, we need more time to shake out hodlers first, so whales can buy it cheaper.
- This altcoin is very popular with retail investors and traders, which is a great sign for the future.
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