GMT Price Prediction: 2024, 2025, 2030

GMT price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, the lowest support level for GMT can be anticipated at $0.08. 
• Meanwhile, $0.99 can likely prove to be the highest point of resistance.

2. Market sentiment

• The GMT market has been observed to be bearish in May 2024.

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, the forecasted average price for the year 2026 is projected to be over $2, further soaring to over $9 in 2028.

Gain in-depth insights on GMT through a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

GMT technical analysis: Market anticipates more declines

The GMT price prediction for 2024 is shaped by its dynamic performance throughout the previous year, with significant fluctuations in market value and emerging patterns playing key roles. Beginning the analysis in May 2023, the sentiment was quite bearish, a trend that was not uncommon in the broader market.

Following this, GMT experienced a significant downturn in June, dropping its value below $0.21. However, bullish traders reversed this decline, pushing the price to test the $0.24 mark. This level was rigorously tested over a month, but the buying momentum diminished, redirecting the price on a southbound trajectory. 
 

By mid-August, the token found its lowest support level at $0.14. This level became a focal point for market players, acting as a floor preventing further price drops. A pivotal moment occurred in October when the price briefly dipped below this base, only to rebound sharply. 

This recovery set the stage for a pronounced bullish trend. By November, this uptrend had gained such strength that it surpassed all previous resistance levels. 

Entering 2024, GMT's momentum propelled it to the highest chart resistance of $0.40. Nonetheless, this peak was met with substantial pushback, leading to a stern rejection and a subsequent fall back to $0.24 in the latter half of the month. 
 

In February, bullish forces rallied once more, culminating in a retest of this peak level in March. Yet, this attempt resulted in a similar outcome. These movements led to the formation of a double top—a bearish reversal pattern.

The reversal materialized as the neckline of the double-top pattern, located at $0.24, was decisively broken in late April. This breach pushed the price down to revisit the $0.21 support. At the time of this report, the altcoin was trading slightly above this level at $0.22. 

According to technical analysis principles, once the neckline of a double-top is breached, the expected target is calculated by measuring the height from the peak to the neckline and projecting this distance downward from the neckline. Thus, the next theoretical target for GMT would be $0.08.

Notwithstanding, there remains an alternative scenario in which the bulls regain strength and reverse the bearish momentum. Should the bulls manage to orchestrate a recovery from the recent technical breakdown, the initial target in such a rebound would be the establishment of the $0.40 level as support. 
 

Successfully holding above this level could signal a revived buying sentiment, setting the stage for an upward trajectory toward a more ambitious price level of $0.60. Once this level is firmly reclaimed, the focus would naturally shift towards achieving the psychologically and financially significant $1 mark. However, approaching the threshold, GMT would encounter a formidable barrier at $0.99.
 

Looking ahead, predictive models provide an optimistic outlook for GMT. The forecasted average price for 2026 is expected to exceed $2, indicating a potential long-term bullish trend. The projection extends even more favorably into 2028, with prices anticipated to soar above $9. These predictions are contingent upon the market conditions and investor sentiment aligning to foster such substantial advances.

GMT's 2024 roadmap: Key indicators to watch and trade

• The trading volume was lackluster up until late October. Afterward, it began to recover in response to price spikes. However, this recovery was short-lived, as subsequent price rejections led to a decrease in trading volume. This implied that traders possibly lost confidence due to the inability of prices to maintain higher levels.
• The Relative Strength Index (RSI) moved above the neutral 50 threshold in November. The index briefly dipped below this mark between late January and early February and again in early April. By the close of the analysis period, the RSI stood at 43.99, suggesting bearish undertones.
• The On-Balance Volume (OBV) mirrored the general trends observed in the RSI, showing a sharp ascent starting from October. However, it reversed direction in early 2024. 
• A similar pattern emerged in late March, with the OBV registering at 11.446 billion. This marked a significant reduction from its previous highs, reflecting considerable selling pressure in the market.