💎 GMT has certainly turned heads in the cryptocurrency market with its notable ascent. The token has recently surged, marked by a robust green candle, as it breached a critical supply level. Currently, GMT is forming a bullish pennant pattern and has entered a retesting phase at a demand zone that was previously a supply area.
💎 For the upward trend to persist, GMT needs to break out from this bullish pennant formation, probability could pave the way for a swift move toward the targeted supply zone and potentially into overbought conditions.
💎 However, there's a less favorable scenario to consider. Should GMT retreat to the demand zone and fail to hold it—effectively breaking down through this support—it could trigger a descent towards the next lower demand level at $0.159.
💎 This level represents a crucial opportunity for GMT to rally and attempt another breakout above the supply zone or to recover the previously lost area. Should GMT be unable to maintain the $0.159 level, it may signal a shift to a bearish trend, increasing the likelihood of GMT moving towards a more substantial support area.