In this Gitcoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for GTC-USDT. Gitcoin (GTC) is a decentralized cryptocurrency that utilizes a proof-of-work consensus algorithm to secure its network and validate transactions. GTC’s unique features include a flexible block time and an innovative governance system that allows holders to vote on proposals for the project’s development. As a community-driven cryptocurrency, Gitcoin (GTC) has gained popularity among developers and users seeking a more open and transparent financial ecosystem.
Gitcoin Price Overview:
As of May 17, 2024, Gitcoin is trading at approximately 1.21 USDT. Let’s dive into the detailed price action for GTC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.164 |
| High (H) | 1.215 |
| Low (L) | 1.156 |
| Close (C) | 1.21 |
| Volume (C) | 703,351.10 |
- Open (O): The opening price for today’s trading session was approximately 1.164 USDT.
- High (H): Gitcoin reached a daily high of around 1.215 USDT.
- Low (L): The daily low for GTC-USDT was approximately 1.156 USDT.
- Close (C): At the time of analysis, Gitcoin is trading near its daily close of 1.21 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.95% |
| 3D Change (%) | 9.30% |
| 7D Change (%) | -1.14% |
| 30D Change (%) | 4.49% |
| 90D Change (%) | -17.12% |
| YTD Change (%) | -9.97% |
Over the past three days, GTCUSDT has risen by approximately 9.30%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -1.14%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GTCUSDT maintaining an upward trend of approximately 4.49%, despite intermittent fluctuations. Examining the last 90 days, GTCUSDT has witnessed substantial decline of approximately -17.12%, reflecting strong long-term confidence. Year-to-date, GTCUSDT has steadily decreased by around -9.97%, 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-USDT 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 0.5957.
- Momentum score is 0.01255.
GTC USDT Technical Analysis
Gitcoin Trading Volume:
The trading volume for Gitcoin (GTC) over the past 24 hours has been insignificant, with approximately 703,351.10 USDT 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-USDT is currently in the low zone, around 44.52322. This suggests that Gitcoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Gitcoin (GTC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT 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 (GTCUSDT) at 1.21 USDT as technical analysis emphasizes strong support and positive indicators for potential growth.
Take your understanding to the next level with our extensive analysis of GTC BTC Gitcoin Technical Analysis; if you enjoyed this post, you’re in for a treat!
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.