STEPN GMT - 77% crash is imminent! | Bearish channel
The price action on the GMT token is terrible. Since the peak in April 2022, the bulls have disappeared and the price is going down pretty quickly!
I expect a 77% crash in the immediate short term. If you like this coin, you can definitely buy it for a cheaper price in the future, but for now, I would stay away.
As you can clearly see, we are trending in this massive descending parallel channel on the daily timeframe , and it's really possible that we are going to touch the channel at the downward trendline.
According to my Elliott Wave analysis, we need to complete an ABC correction before the start of a new bull market. We started with a strong impulse wave in 2022, which gives us hope for much higher prices in the future.
I think STEPN is a great brand, but as I said, we need more time to shake out hodlers first, so whales can buy it cheaper.
This altcoin is very popular with retail investors and traders, which is a great sign for the future.
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