$GT #GT

Pullback to 7.94 Dollars After 8.36 Dollar Top

GateToken is in a healthy correction after reaching a new high of 8.36 dollars. GT/USDT is trading at 7.94 dollars down 1.98 percent on the day. The 24 hour range is 8.26 dollars high and 7.63 dollars low with volume of 189.91K GT and turnover of 1.51M dollars. On the futures side GTUSDT Perp is at 7.928 dollars down 2.10 percent showing perps leading the pullback.

The 4 hour chart shows a clear uptrend since August 17. The move started from 6.65 dollars and accelerated after August 20 reaching 8.36 dollars on August 24. This represents more than 25 percent appreciation in one week. After the peak, price formed a double top around 8.26 dollars and corrected sharply to 7.63 dollars. The current candle at 7.94 dollars is a recovery attempt from that low.

The technical structure remains constructive. Price is trading just above EMA5 at 7.93 dollars and EMA10 at 7.91 dollars after briefly losing them. EMA30 at 7.66 dollars is the main trend support located 3.5 percent below spot. As long as 7.66 dollars holds on a 4 hour closing basis, the uptrend that started from 6.65 dollars remains intact. MFI is at 64.90, cooling from overbought levels above 80 seen at the top, indicating that the overheating has normalized without distribution.

The reason for the decline is not GT specific. It is driven by broader market weakness. Bitcoin's drop from 81,269 dollars and Ethereum's pullback triggered profit taking across exchange tokens. GT had outperformed with 15.98 percent gain in 7 days and 17.01 percent gain in 30 days, so a 3.33 percent daily decline is a natural retracement of that outperformance. The long wick at 8.36 dollars shows supply entering at round numbers.

Levels to watch are well defined. To the upside, reclaiming 7.93 dollars and 8.01 dollars opens the path to 8.26 dollars and then 8.36 dollars. A 4 hour close above 8.36 dollars would confirm continuation toward 8.50 dollars. To the downside, 7.63 dollars is the immediate low that must hold. A break below would target EMA30 at 7.66 dollars and then 7.50 dollars. The 7.66 dollar level is the critical line between correction and trend reversal.

In summary, GT is experiencing a controlled correction after a vertical rally. The trend remains bullish above 7.66 dollars and this 7.94 dollar level is a consolidation before the next attempt at 8.36 dollars.

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