STEPN to new highs? GMT price painting first ‘bull flag’ toward $5 target

2022.04.22 11:41

STEPN to new highs? GMT price painting first ‘bull flag’ toward $5 target

STEPN (GMT) has rallied strongly against the U.S. dollar this week as it looks likely to form a classical bullish technical pattern called the “bull flag.”

GMT’s price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 followed by a relatively modest correction to nearly $3. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of it to the upside.

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