Bearish momentum intensifies amid oversold technical readings

Momentum signals remain distinctly bearish: the MACD on D1 shows strong downward momentum, with a negative value and “Strong Sell” signal. ADX remains elevated at 44.25, signaling a strong and persistent trend. RSI (23.6), Stochastic RSI (3.53), and CCI (–130.5) all indicate oversold territory, while BBP (–0.409) confirms seller dominance intraday. The Awesome Oscillator’s neutral reading neither supports nor contradicts the overall downtrend. The session opened with a minor gap down (from $10.75 to $10.23), and the current price is near the day’s low ($9.71 – $10.36 range), indicating heavy selling since the open, high intraday volatility, and a clear negative tone.

Further declines likely barring reversal above resistance

Looking ahead, the expected range for the next 5 trading days is $8.80 to $10.60, adjusted to fit within a realistic volatility band around the current level. The probability of a further decrease in price is very high (more than 80%), while the likelihood of a rebound is very low. The baseline scenario sees GT consolidating between $8.80 and $10.60 if selling pressure slows. A bullish scenario would only emerge if price breaks and stabilizes above the $12.98 Ichimoku Kijun resistance. In the bearish case, sustained weakness could push GT toward new weekly lows closer to $8.80.

Anton Kharitonov, expert at Traders Union, notes that GateToken remains under decisive selling pressure, with bearish indicators dominating across all time frames. He sees little chance for a rebound as long as the price stays below dynamic resistance at $12.98, and expects continued volatility within the $8.80 to $10.60 range. The analyst remains firmly defensive given the strong downward momentum and oversold signals. "No bullish setup in sight — as long as GT trades below $12.98, I remain cautious and defensive."

Previously it was noted that momentum indicators point to a persistent bearish trend, and daily oscillators show oversold conditions. Last time we reported that the baseline outlook remains a sideways range for GateToken with rebounds capped near resistance and limited probability of a lasting rally.