Access barriers shape GT trading flows amid robust market cap
GateToken launched on the Ethereum platform on April 21, 2019, with a total supply near 117.34 million tokens and 80.27 million in circulation. The token saw a 24-hour trading volume of about $12.53 million, and its market capitalization stands at approximately $922.45 million. Investors must acquire Bitcoin or Ethereum on fiat-friendly exchanges before trading for GT, as it cannot be purchased directly with US dollars.
Anton Kharitonov, expert at Traders Union, points to persistent technical weakness in GateToken. He notes that price remains consistently below all major moving averages, with the rally lacking support from momentum indicators. Kharitonov is critical of underlying sentiment, given sellers’ dominance and declining confidence reflected in oversold oscillators. He warns that fundamental demand is failing to offset technical pressure. "Sustained bearish momentum and lagging fundamentals suggest the risk of further downside is still elevated," Kharitonov says.
Viktoras Karapetjanc, expert at Traders Union, sees the recent oversold signals and strong trading volume as a constructive base for GateToken. He highlights that robust market capitalization and rising intraday action provide multiple opportunities for forward-looking investors. Karapetjanc remains optimistic about GT’s medium-term prospects, citing platform fundamentals and resilient market structure. "Despite current consolidation, I expect the bullish structure to remain intact and further growth to materialize once sentiment improves," he affirms.
Jainam Mehta, market strategist, observes a disconnect between today’s price rally and the ongoing bearish momentum readings. He notes several oscillators are signaling oversold extremes, which may foster tactical trades if a quick reversal develops. "With volatility high and sentiment stretched, this setup may offer contrarian opportunities for short-term traders on a breakout above resistance," Mehta comments.
Divergent signals as price rally contrasts with weak momentum
Momentum is mixed for GT, with both daily MACD and ADX indicators remaining in bearish territory and highlighting continued negative momentum, despite today’s gain of over 11%. Oscillators including the RSI, Stoch RSI, CCI, and BBP indicate deeply oversold conditions, while BBP suggests sellers have led recent sessions. Today's session showed a strong move toward the high end of the day’s range between $10.97 and $12.04, alongside elevated volatility. However, the current rally is not fully confirmed by underlying momentum indicators, revealing a notable divergence between price action and technical signals.
Previously it was noted that intraday performance and momentum both confirm the strong bearish tone. Last time we reported that technical indicators showed persistent selling pressure and extreme short-term weakness for GT.
