🍔 Technical Analysis: Stepn ( $GMT )

Market capitalization: $48M.
GMT continues in a prolonged downtrend.
Since the start of the year, the token has lost more value despite the rewards halving on January 1st, which cut GMT emissions by 50%.

🟡 On the chart, we see a classic picture: price is making lower lows, forming a descending channel. Currently, there's a small upward correction, but for now it looks like a breather before the decline continues.

How to trade❔

For selling:
💬 Wait for a break of the current local low.
Stop-loss — behind the nearest extremum.

💬 Target — the area of historical lows.
Risk-reward ratio is good, but the trade needs to be managed by trailing the stop as price moves

💬 It's too early to talk about buying. For a trend reversal, we need a breakout of the resistance zone with consolidation. Even then, the nearest profit targets are too close to justify the risk.

Conclusion:
GMT is an asset for patient short-sellers. While the trend is down, we work from the sell side with strict risk management.

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