GMT/USDT Could GMT break the resistance and continue upward ??
💎GMT has recently undergone significant market dynamics. Presently, GMT is undergoing an upward climb, with a backtest on the bearish OB underway. However, for GMT to sustain its upward trajectory, it needs to overcome the resistance in this area.
💎 A successful breakout above the resistance would pave the way for further upward movement. Additionally, breaching the Bearish OB would signify a bullish momentum, potentially leading GMT to reach our target strong resistance area.
💎 On the contrary, if GMT faces rejection at the resistance level, it could trigger a downward movement towards the demand area to establish new momentum. It's noteworthy that a Head and Shoulders (HNS) pattern is visible on the chart, indicating a potential reversal.
💎 Therefore, GMT must bounce back to the demand area. Failure to do so and a subsequent breakdown below the demand level would validate the HNS pattern, leading to a significant continuation of the downward movement.
💎 A successful breakout above the resistance would pave the way for further upward movement. Additionally, breaching the Bearish OB would signify a bullish momentum, potentially leading GMT to reach our target strong resistance area.
💎 On the contrary, if GMT faces rejection at the resistance level, it could trigger a downward movement towards the demand area to establish new momentum. It's noteworthy that a Head and Shoulders (HNS) pattern is visible on the chart, indicating a potential reversal.
💎 Therefore, GMT must bounce back to the demand area. Failure to do so and a subsequent breakdown below the demand level would validate the HNS pattern, leading to a significant continuation of the downward movement.
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