- STEPN is a Web3 lifestyle app.
- Works on move-to-earn protocol.
- GMT prices rose by more than 15% in the past 24 hours.
STEPN is a self-titled “Web3 lifestyle app” with GameFi elements. It combines aspects of a play-to-earn (P2E) game with a fitness app to create a new category coined “move-to-earn.”
Web3 is a concept that pushes the whole network to monetization. Networks like STEPN add an extra zing by variating the basic concept. This may help it provide an upper hand when Web3 goes mainstream. The network facilitates its users to buy NFT sneakers to use to earn in-game currency while walking, running or jogging.
On the occasion of the Lunar new year, the network has launched a contest inviting people to post their version of the STEPN 2022 recap. The network proposes to reward the 10 random winners with 2,023 GMT tokens.
Just under 24 hours to share your #STEPN 2022 stats on Twitter!
Remember, 10 random winners walk away with 2,023 $GMT
Are you going to be the lucky one? We'll find out soon
— STEPN | Public Beta Phase V (@Stepnofficial) January 21, 2023
Monoscopic View
The GMT prices formed a bullish flag after the prices went through a bullish breakout. The breakout was immediately met with sellers who wished to profit from the price rally. The OBV saw an uptick showing the present scenario to be positive. The current $0.60 is anticipated to reach nearly $0.88, increasing by about 40%. The EMAs form a bullish crossover to support the aforementioned notion.
The CMF escalates from the baseline to mark the bull-rule in the market. The MACD records a thread of buyers participating in the market, while the lines diverge for the bulls. The RSI oscillates around the 70-range to reflect the buyers’ pull in the token.
Microscopic View
The smaller time frame suggests GMT to witness a wobbly rally. The CMF up from the baseline to reflect the bullish momentum. The MACD records tall buyer histograms as the lines undergo a bullish divergence. The RSI pierces the 70-mark to enter the overbought zone to mirror the bull-dominance.
Conclusion
The GMT token may witness a propelling future as the notion it’s based on is anticipated to evolve and rise. The protocols that are related to Web3 may certainly yield heavy returns to its holders. The investors of GMT to watch out for the resistance near $0.70.
Technical levels
Support levels: $0.33 and $0.10
Resistance levels: $0.70 and $0.88
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/23/stepn-to-pave-path-destined-to-reach-web3-gmt-to-define-newer-protocols/