In this Gitcoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for GTC-BTC. Gitcoin (GTC) is a decentralized cryptocurrency that leverages blockchain technology to facilitate secure and transparent financial transactions. It utilizes a proof-of-work consensus algorithm to validate transactions and maintain network security, ensuring the integrity of the platform. With its focus on privacy, security, and decentralization, Gitcoin (GTC) offers an innovative alternative to traditional digital currencies.
Gitcoin Price Overview:
As of July 01, 2024, Gitcoin is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for GTC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 2e-05 |
| Close (C) | 2e-05 |
| Volume (C) | 22,912.20 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): Gitcoin reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for GTC-BTC was approximately 2e-05 BTC.
- Close (C): At the time of analysis, Gitcoin is trading near its daily close of 2e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.17% |
| 3D Change (%) | -0.50% |
| 7D Change (%) | -0.43% |
| 30D Change (%) | -36.88% |
| 90D Change (%) | -41.18% |
| YTD Change (%) | -49.51% |
Over the past three days, GTCBTC has declined by approximately -0.50%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -0.43%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GTCBTC maintaining a downward trend of approximately -36.88%, despite intermittent fluctuations. Examining the last 90 days, GTCBTC has witnessed substantial decline of approximately -41.18%, reflecting strong long-term confidence. Year-to-date, GTCBTC has steadily depreciated by around -49.51%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Gitcoin Live Chart:
You can access a live price chart for GTC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.57444.
- Momentum score is -0.14974.
GTC BTC Technical Analysis
Gitcoin Trading Volume:
The trading volume for Gitcoin (GTC) over the past 24 hours has been insignificant, with approximately 22,912.20 BTC traded against GTC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): GTC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Gitcoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for GTC-BTC is currently in the low zone, around 42.0004. This suggests that Gitcoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Gitcoin (GTC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Embrace a bullish sentiment for Gitcoin (GTCBTC) at 1.61e-05 BTC with technical analysis highlighting strong support and positive indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.