STEPN

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Widely followed crypto trader Michaël van de Poppe says STEPN (GMT) could see a massive rally if Bitcoin (BTC) can maintain the $28,400 support range.
The crypto analyst tells his 602,000 Twitter followers GMT could soon jump approximately 47% to the $1.80 level.

“Might be a play on GMT if BTC holds $28,400 range.”
Source: CryptoMichNL/Twitter
STEPN is trading for $1.38 at time of writing.
Staying on BTC, Van de Poppe says if Bitcoin can flip the $29,400 level from resistance to support, then nothing is stopping the largest crypto by market cap from reaching $32,800.
“Still watching this on Bitcoin in which my area is the one at $28,400 (marked a few days ago).
Rejected at $29,400 as well, so will see how lower ranges are going to react.
Flip of $29,400 is a trigger towards $32,800 already.”
Source: CryptoMichNL/Twitter
Bitcoin is trading for $30,362 at time of writing.
Van de Poppe also thinks the altcoin markets are ready to pop. He singles out a chart of Chiliz (CHZ), nothing that the sports-focused social token could be poised to make 20-35% gains.
“Good breakout on some altcoins, resulting into some [Support/resistance] flips that could be traded.
This one on CHZ as well.
Might result into 20-35% run.”
Source: CryptoMichNL/Twitter
Chiliz is trading for $0.12 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



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The post One of 2022’s Most Explosive Altcoins May Be Gearing Up for 47% Rally, According to Analyst Michaël van de Poppe appeared first on The Daily Hodl.


Widely followed crypto trader Michaël van de Poppe says STEPN (GMT) could see a massive rally if Bitcoin (BTC) can maintain the $28,400 support range. The crypto analyst tells his 602,000 Twitter followers GMT could soon jump approximately 47% to the $1.80 level. &#8220;Might be a play on GMT if ...

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One of 2022’s Most Explosive Altcoins May Be Gearing Up for 47% Rally, According to Analyst Michaël van de Poppe

A closely followed crypto analyst is outlining what’s ahead for Ethereum rival Solana (SOL) and move-to-earn protocol STEPN (GMT).
In a strategy session, DonAlt warns holders of smart contract platform Solana that SOL looks bearish on the high timeframe charts after converting weekly support at $140 into resistance.

According to DonAlt, the price action suggests that SOL is at risk of losing half of its value.
“Solana legitimately looks like the altcoins did in 2018. You have the perfect bearish retest… and then you realize the next support that you have, if you toggle the weekly [chart], is that $47, which is 50% down. That’s the nearest support that I have and then it starts getting scary.” 
Source: DonAlt/YouTube
At time of writing, Solana is changing hands for $76.84.
Another coin on the trader’s radar is STEPN, the walk-to-earn project whose GMT token has significantly corrected after enjoying parabolic rallies in recent weeks. According to DonAlt, he expects GMT to go through a period of wild volatility in the coming week that would present a prime buying opportunity for the bulls.
“I honestly can see [GMT] close at this level this weekend. And then next week wipe out big time and reverse it all back again like towards the end of the week. That would be a really, really good trade where you close where we are right now [at] $2.40, maybe at $2.25, and then you wick down to $1.50 or $1.00 during next week if something crazy happens. 
I think if you get that big wick and you see Bitcoin approaching support, you just want to be buying that. And then you have an easy 2x to 3x just straight off the bat from that.”
At time of writing, GMT is trading at $2.51.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Tuso chakma
The post Here’s What’s Next for Solana (SOL) and Red-Hot Altcoin STEPN (GMT), According to Crypto Strategist appeared first on The Daily Hodl.


A closely followed crypto analyst is outlining what&#8217;s ahead for Ethereum rival Solana (SOL) and move-to-earn protocol STEPN (GMT). In a strategy session, DonAlt warns holders of smart contract platform Solana that SOL looks bearish on the high timeframe charts after converting weekly suppor...

Here’s What’s Next for Solana (SOL) and Red-Hot Altcoin STEPN (GMT), According to Crypto Strategist

The closely followed analyst and host of Coin Bureau is issuing warnings on a slew of altcoins that put in good performances last week, but face headwinds as crypto markets correct.
In a new update, the pseudonymous analyst known as Guy tells his 2.03 million subscribers that smart contract platform TRON‘s (TRX) rallies after news of its new decentralized stablecoin don’t appear to have much momentum behind them.

“There’s TRON whose TRXcoin is rallying on the upcoming release of the USDD stablecoin which will have a similar mint and burn mechanism to Terra’s UST. TRX is also in a long-term uptrend and though this trend looks stronger than most other cryptocurrencies at first glance, TRX hasn’t moved all that much in percentage terms over the last couple of years. So keep that in mind before you get too excited.”
Guy also has his eye on STEPN, the fast-rising walk-to-earn project whose GMT token has enjoyed parabolic moves in recent weeks. The analyst says that GMT has a shot at continuing its rally, but faces the heavy downward weight of the broader crypto market dip.
“As for STEPN, the GMT token is continuing its upwards trajectory, thanks to listings on Coinbase and Gemini, which has made it accessible to more investors. The exponential adoption of the STEPN app is certainly contributing too. GMT seems to be building a solid zone of support around current levels which will help when it tries to break new all-time highs. Just bear in mind, that if we break down below this zone, GMT could crash by more than 30%. Some would argue that it’s only a matter of time the way the market is looking. 

The analyst also puts the spotlight on crypto lending platform Nexo, whose native NEXO token is up after a surprise Binance listing. While he’s ultimately bullish on the project, Guy warns that impending regulations on companies like Nexo may put a limit on how much further it can go.
“When it comes to Nexo, the NEXO token is reaching for the sky on the back of a Binance listing last week, as well as the recent release of Nexo’s crypto card, which I definitely need to get my hands on… What’s nice is that Nexo is in a very strong long-term uptrend but I wonder how much more it can grow given the crackdowns we’re starting to see on apps that let you earn interest on your idle crypto.”
Finally, Guy puts traders on notice about XinFin XDC, which aims to be an enterprise-ready blockchain protocol specializing in tokenization for real-world decentralized finance. The analyst warns that limited access to XDC through exchanges, plus an overall downward crypto market could spell trouble for the altcoin.
“The XDC coin is apparently pumping on the news that Panama will be promoting its adoption as part of the aforementioned crypto bill, in addition to a whole bunch of other altcoins including ETH, XRP and ALGO. While the XDC coin is still in something of a long-term uptrend, I would exercise caution here as exchange support is currently limited – never mind the fact that it probably won’t be able to pump against the dump for long.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Rattanamanee Patpong
The post Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter appeared first on The Daily Hodl.


The closely followed analyst and host of Coin Bureau is issuing warnings on a slew of altcoins that put in good performances last week, but face headwinds as crypto markets correct. In a new update, the pseudonymous analyst known as Guy tells his 2.03 million subscribers that smart contract platf...

Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter

A closely followed crypto trader is issuing a warning to STEPN (GMT) investors, saying that the fundamentals of the altcoin no longer support its valuation.
Pseudonymous analyst Light tells his 155,700 Twitter followers that he believes GMT, which equips users with non-fungible token sneakers and rewards them for taking steps in real-life, is extremely overvalued after going through a massive rally in the last two months.

“Think GMT is about to walk off the edge of a cliff in short order.
Built a full short position in the $3.80s.
The token ran up 40x from Binance listing in two months on a strong Axie mimic narrative and incredible app growth metrics.” 
Source: Light/Twitter
Light says that while the app’s use case is “compelling,” the current number of STEPN users doesn’t justify its fully diluted valuation of over $20 billion.
“The token now implies a $23 billion valuation diluted. Read that again. With 19,763 users on the app today, buying GMT is akin to paying $1.16 million per current user.”
Source: Light/Twitter
Light also highlights the massive gap between GMT’s current market capitalization of about $2 billion from its fully diluted valuation, saying that token unlocks will generate tremendous sell-side pressure.
“The gap from the $2.3 billion circulating to the diluted comes in the form of game emission (which is driving user growth) and upcoming investor unlocks, which current GMT holders will have to absorb just to hold price stable. Private round investors from months back are up ~750x.”
Source: Light/Twitter
Light says that buying GMT for its value is no longer defensible. He also warns that he’s seeing signs that GMT’s momentum is starting to slow down.
“For the first time since it began trading, this momentum is flagging. The latest Coinbase listing-driven impulse has failed to hold above the highs. This is markedly different behavior than past breakouts, and Coinbase listings have often historically marked mid to long-term tops.”
Source: Light/Twitter
Light also says that GMT has failed to move higher despite a “boatload” of positive news over the last few weeks, hinting that market participants are already unloading their holdings.
From a technical standpoint, the crypto trader adds that GMT has likely put in a top at “round number.”
At time of writing, GMT is changing hands for $3.45, down nearly 15% from its all-time high of $4.04.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Julia Ardaran and Salamahin
The post One of 2022’s Most Explosive Altcoins Is About To Walk Off a Cliff, Warns Top Crypto Trader appeared first on The Daily Hodl.


A closely followed crypto trader is issuing a warning to STEPN (GMT) investors, saying that the fundamentals of the altcoin no longer support its valuation. Pseudonymous analyst Light tells his 155,700 Twitter followers that he believes GMT, which equips users with non-fungible token sneakers and...

One of 2022’s Most Explosive Altcoins Is About To Walk Off a Cliff, Warns Top Crypto Trader

A few days of consolidation from BTC price could lead to a healthy bounce from LUNA, NEAR, VET and STEPN. 

STEPN price	$1.37
Low - High 24H	$1.32 - $1.43
Market cap	$824.92M
Volume 24H	$573.69M
All time high	$4.11 -66.54% April 28th 2022
All time low	$0.100826 1262.97% March 11th 2022
Genesis date	N/A

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