STEPN to new highs? GMT price painting first 'bull flag' toward $5 target
GMT is booming amid warnings that its 38,000% price rally since inception could end up being an "absolute joke." STEPN (GMT) has rallied strongly against the U.S. dollar this week as it looks likely to form a classical bullish technical pattern called the "bull flag."GMT eyes more upsideGMT's price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 followed by a relatively modest correction to nearly $3. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of....
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A classic technical pattern points to a 20% price rally in the Cardano market, with its profit target sitting above $3. Cardano (ADA) appears to be heading toward a new record high as its downside move takes the shape of a bull flag.In detail, the ADA/USD exchange rate plunged 16.91% to $2.47, but the pair’s decline came after a strong move higher, wherein it surged over 120% month-to-date to reach an all-time high of $2.97 on Monday. Therefore, the latest declines have given the impression that Cardano is undergoing a brief pause before it resumes its uptrend.Part of the upside analogy....
The Dogecoin price has recently exhibited a classic bull flag pattern on its price chart, a technical indicator often signaling continued upward momentum. The Dogecoin price has mostly traded below $0.4 in the past seven days on the back of a continued price consolidation. At the time of writing, Dogecoin is trading at $0.39, sitting firmly within the consolidation phase of this bull flag pattern. KrissPax Identifies Key Target For Dogecoin Price This development of a bull flag pattern was highlighted on the social media platform X by crypto analyst KrissPax, which relays to the current....
A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Chainlink just set a record for the most bullish green daily candle since 2020 started. The 24-hour surge beat out any intraday rallies leading up to the asset’s current all-time high. It also has kept a bull flag formation alive that could send Chainlink to $25 and another new price peak before the year is […]
MATIC retested the bull flag’s upper trendline as resistance Friday after its price rose by up to 30%. Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag.In detail, bull flags are bullish continuation patterns that emerge when the price consolidates following a strong move higher. In doing so, the price tends to trend lower while leaving behind a sequence of higher lows and lower lows.A breakout occurs when the price closes above the flag’s upper trendline (or resistance). In other words, the price can....