The Gate token has captured significant attention from the crypto market in recent days due to its increasing price volatility. The price of GT has risen more than 3% in the last day, but has accumulated more than 78% in the last 30 days, making it a possible choice for the next bullish phase.

The price of Gate was traded in a tight range between $1.8925 and $2.0916 for a while, after which the bulls gained momentum and the price broke out of the range. After recording a jump of 17.5%, the price of GT showed a neutral trend for the next seven days.

As market volatility increased, the bulls regained momentum and jumped over 18%, after which the GT token traded sideways in the following days. The GT token continued to gain significant market attention, resulting in a 22% increase over the next three days.

After facing rejection at $3.2319, the Gate token showed a neutral trend for a while. After multiple attempts, it successfully broke the resistance level and recorded a jump of more than 15.50%.

The token then traded sideways for a while, after which the bullish lost momentum and broke the support level. Since then, the price has been trading in a consolidated range between $3.0006 and $3.5374.

Will the price of Gate increase?

The MACD shows a steady increase in the green histogram, indicating greater buying pressure over selling within the crypto market. Additionally, the averages show a consistent rise, suggesting that the price will continue to gain value in the next period.

If the bulls regain momentum, the price of GT will test its resistance level of $3.5374 soon. Moreover, if the bulls maintain the price at that level, it will prepare to test its upper resistance level of $4 during the coming weeks.

On the contrary, if a trend reversal occurs, the bullish will lose momentum and fall to test their support level of $3.0006. Furthermore, if the bears continue to dominate the market, it will crash and prepare to test its lower support level of $2.6547 in the next period.

Notice: Includes third-party opinions. It is not financial advice. It may include sponsored content.