GameStop(GME) Token rallied 140% after the trader RoaringKitty revealed his stocks and options positions worth $586 million in Gamestop Stock. Despite being unofficially affiliated with GameStop, the cryptocurrency GME has caused a mirror impact and the digital asset value surged nearly 3000% since mid-May 2024.
GME token is changing hands at the price of $0.02663 with an impulse 24-hour rise of 138%, hitting its new all-time high of $0,277 today, and a massive weekly rally of 610%.
The Gamestop 1hr GME/CHART draws a parabolic surge indicating increased volatility, and plotting new higher highs. The chart reveals new support points at $0.0086 and $0.00777 and the price is trading near its All time-high value.
GME price is now trading above its 50-day and 100 SMA, this is a bullish signal. RSI is struggling to rebound as it is reading at 76, above the oversold level of -70, indicating the buyers are still entering the positions.
The Moving Average Convergence Divergence (MACD) prints a bullish trend, the MACD line can be seen crossing the orange trigger line, encouraging bulls to form more buying positions.
After rallying to such a big extent, traders often feel a greedy environment, and swing traders just wait for another trading session to start. GME has created a scene that is both cautious and a buying opportunity.
The technical indicators, marker fundamentals, and crypto market overview all favor the further push of GME tokens to new upper levels. The bulls aim to take control and form corrective-sideway trading and aim toward a $0.3 mark.
In contrast, if the price action is hit by a bearish trend, the price will retrace lower support zones near $0.008.
Traders must keep in note that, the GME crypto surge is due to the positive influencer fundamentals, and this kind of updates should be tracked to see further growth. If the investor sentiment continues the GME can be soon seen in the range of $0.3.
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