Highlights
- GT Protocol’s price surged 18% to $0.7779, with trading volume up 71% to $7.5 million.
- The GT Protocol-Units Network partnership enhances access to DeFi, CeFi, and NFT markets.
- The collaboration combines Units Network’s blockchain solutions with GT Protocol’s AI tools.
The GT Protocol price has surged 18% in the last 24 hours to trade at $0.7779 as of 4:50 a.m. EST on a 71% pump in trading volume to $7.5 million. The surge in GTAI price comes as GT Protocol partners with Units Network to make investing in crypto and Web3 more accessible and seamless. In 2024, GT Protocol will be a state-of-the-art AI-driven platform for AI trading, asset management, and market analysis.
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🔥 GT Protocol x @UnitsNetwork Partnership! 🤝
We’re excited to partner with Units Network, a Layer 0 blockchain redefining scalability and decentralization. This collaboration supports our mission to enhance the blockchain ecosystem and drive the future of Web3.
Together,… pic.twitter.com/wNRy1Am966
— GT Protocol (@GT_Protocol) November 21, 2024
Units Network is a Layer-0 blockchain protocol that makes blockchains talk to each other with one interface and has modular solutions for interoperability and liquidity sharing.
This deal targets access to DeFi, CeFi, and NFT markets in one place and finally opens blockchain-based investing to all investors, from experienced to new ones. The merger of Units Network’s scalable technology and GT Protocol’s AI-powered tools will provide a globally accessible and efficient financial ecosystem.
GTAI Statistics
- GT Protocol price: $0.7779
- Market capitalization:$31 million
- Trading volume:$7.5 million
- Circulating supply:40 million
- Total supply:75 million
GTAI/USD Targets $0.98 After Bullish Breakout from Rounded Bottom Pattern
The GTAI/USD 4-hour chart points to a strong development of a bullish reversal in place with the formation of the rounded bottom pattern. This pattern, usually forms at the point of transition between a bearish trend and the commencement of a bullish trend and has led to a breakout above the critical resistance level at $0.75.
This breakout confirms the rounded bottom pattern and flips the resistance into a support level. Currently trading around $0.76, the price shows strong upward momentum. Based on the pattern’s height, the projected price target is approximately $0.98, representing a potential continuation of the bullish trajectory.
The 50-period SMA, now at $0.61, has crossed over the 200-period SMA at $0.62-a golden cross formation. The golden cross is a classic bull signal, often leading to the beginning of a long-term uptrend. Both SMAs are slanting upwards, indicating sustained buying pressure and lending further momentum to the bullish bias.
Bullish Indicators Confirm Strength in GT Protocol Momentum
The MACD indicator also supports a strong rally. The MACD line is well above the signal line, reflecting robust buying momentum. The positive histogram bars suggest a regular incidence of strong buyer activity.
Meanwhile, the RSI is at 72.85, placing it in overbought territory. This reflects strong demand and bullish sentiment for GT Protocol price but warns of a potential short-term correction or consolidation as the market digests recent gains.
The support level at $0.75 coincides with the level from the recent breakout and should if tested, provide a good springboard for further gains. Further support comes in at the 50-MA at $0.61, adding extra weight in the event of a deeper pullback. Resistance-wise, the immediate obstacle to breach is the forecast resistance target at $0.98, while psychological resistance will likely come in at $1.00.
Given the current trend, there is a good chance that near-term prices could head toward the $0.98 level, especially if buyers continue to push the price higher. Still, traders should be prepared for a possible pullback or consolidation phase, as overbought conditions on the RSI suggest the market may need a breather.
Additionally, a retest of the $0.75 support might prove an excellent entry point for buyers intent on positioning for the next leg higher. Overall, a bullish chart pattern combined with strong moving averages and momentum indicators pegs GTAI/USD for a potential further upside toward the $0.98 level in the upcoming sessions.
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