Lokesh Gupta
03-06-2024
After reaching a high of $0.197670 on May 14th, GME's price experienced a correction, dropping by approximately 83%.
Over the last four days, small body and Doji patterns have formed, indicating a potential reversal.
After Keith Gill, aka "Roaring Kitty" on X, revealed on Reddit that he holds $181.4 million in GME stock and call options, boosting GME's price.
GME used support around $0.003 on the lower boundary of the falling wedge pattern to initiate a rally.
GME is trading above the Ichimoku Cloud, all moving averages, and the Gaussian Channel. Additionally, RSI has entered the overbought zone.
According to Coin Gabbar analysis, If the current rally continues, GME's price could approach its May high near $0.020000, with further potential targets around $0.0500000.
Despite the bullish momentum, caution is warranted. The MACD and RSI suggest that GME is highly overbought. This could prompt profit-taking among bears, leading to a potential sell-off.
In the event of a sell-off, GME may find support around $0.0106000, followed by $0.0087000.
KEY LEVELS :
RESISTANCE LEVEL : $0.02000000-$0.03700000
SUPPORT LEVEL : $0.01060000-$0.00870000
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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