Gate (GT) Token
Price Surpasses $
15, Crowned
Top Performing Altcoin
in 24 Hours
Gate (GT), the native token of the GateChain, the public blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн of the
Gate.io exchange, has become the top-performing altcoin in the last 24 hours.
The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта reached this milestone after the Gate token price climbed
by 10% and surpassed the $15 mark .
GT s surge to $15 marks a new all-time high for the altcoin, which has
seen its price soar by nearly 200% this year. However, the pressing question
is whether the token can maintain its momentum as a top-performing altcoin.
Gate Token Not Yet Overbought, Market Cap Nears $2 billion
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GT’s position as the top-performing altcoin happened due to notable buying
pressure. According to the daily chart, the Money Flow Index (MFI) has jumped
to 66.95. The MFI is a technical indicator that combines price and volume data
to identify overbought or oversold conditions.
An MFI reading above 80 typically signifies overbought conditions, while a
reading below 20 indicates oversold conditions. However, the indicator also
tells if there is a good level of buying or selling pressure around a
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.
When the reading rises, it indicates buying pressure, but a decline indicates
selling pressure. Therefore, the current reading indicates notable buying
pressure. If sustained, the Gate token price might trade higher.
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Gate Money Flow Index. Source: TradingView
Interestingly, the altcoin s surge to a new all-time high coincided with
a similar performance by Bitget Token (BGB) . This trend suggests that
exchange-linked tokens are currently in high demand within the broader market.
Following this price increase, Gate’s Market Cap is on the brink of hitting $2
billion. Market cap is the product of price and circulating supply. Therefore,
the 10% price increase played a huge role in the market cap growth.
Should the price continue to rise, the GT altcoin market cap might rise to
more than $1.90 billion in the short term. Gate Market Cap. Source: BeInCrypto
GT Price Prediction: Bears Are Out of the Way
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From a technical point of view, the Bull Bear Power (BBP) reading has
continued to climb. The BBP measures the strength of buyers (bulls) compared
to that of sellers (bears).
When the indicator’s reading is positive, bulls are in control. On the other
hand, the BBP reading is negative, which means bears have the upper hand. As
of this writing, the BBP is at 3.32, indicating that the altcoin’s value might
continue to rise. Gate Daily Analysis. Source: TradingView
If the trend continues, GT’s price might rally above $16. If the broader
market condition gets extremely bullish, the altcoin might climb to $20.
However, a rise in profit-taking could change things, and the value could
decline to $12.39.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for
informational purposes only and should not be considered financial or
investment advice. BeInCrypto is committed to accurate, unbiased reporting,
but market conditions are subject to change without notice. Always conduct
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