• The cryptocurrency market recently crossed $1 trillion in market cap and many tokens saw a rise in their prices.
• STEPN (GMT) recently underwent a rally and increased over 140% in value since the beginning of the market recovery.
• Technical indicators suggest that the token could potentially double its value in the coming weeks due to a breakout from a falling wedge, a bullish reversal pattern.
The cryptocurrency market recently saw a major milestone as it crossed the $1 trillion mark in market capitalization, a figure which had last been seen in September of 2022. As a result of the impressive milestone, many of the tokens on the market experienced a surge in their respective prices.
One of the tokens that saw a significant increase in its value was STEPN (GMT). Since the beginning of the market recovery period, STEPN has increased by a whopping 140% in value. This rally has been attributed to the recovery of both the NFT and DeFi industries, as well as the general recovery of the cryptocurrency market and the high volatility of the assets.
Technical indicators suggest that the token could have the potential to double its value in the coming weeks, due to a breakout from a falling wedge, which is a bullish reversal pattern. However, it is still not clear how long the recovery rally will last, and whether or not the token will be able to break through the resistance level of $0.6-0.7.
The STEPN project is part of play-to-earn gaming, and could have caught the bullish drift, however, there have been no major fundamental news which could have pushed the rally. As a result, it is still unclear what the future holds for STEPN and other tokens in the cryptocurrency market.