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<p>In a market where most cryptocurrencies have been trading sideways, Gitcoin’s native token, GTC, has shown a jaw-dropping bullish streak. As of today, the cryptocurrency has rocketed by an eye-popping 40%, touching a price of $1.25 and achieving a market capitalization of $77 million. This remarkable climb sets it apart from its larger, more established peers.</p> 
<h2 class="wp-block-heading" id="the-technical-indicators-driving-the-surge">The Technical Indicators Driving the Surge</h2> 
<p>A number of elements have contributed to GTC’s stunning performance, but technical indicators undoubtedly stand out as a significant catalyst. Over the past few months, the asset seemed to have solidified a sturdy support level around the $0.86 mark. The crypto community had been closely watching for a breakout, which materialized on September 1st, when the coin pushed through the $0.90 resistance level.</p> 
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats – Start using it today</a></strong></em></p> 
<p>Post this breakthrough, GTC not only maintained its gains but soared to a temporary high of $1.60. This price action has sparked considerable excitement and bullish sentiment, focusing attention on Gitcoin as a project laden with tremendous potential.</p> 
<p><strong>Key Technical Observations:</strong></p> 
<ul> 
 <li>The price movement broke out of a falling wedge pattern, a bullish indicator, with significant trading volume.</li> 
 <li>Currently, GTC is facing resistance at the Exponential Moving Average (EMA) 200.</li> 
 <li>Volume profile analysis suggests robust support at the breakout level, making it a pivotal point for traders.</li> 
 <li>Potential entry points for investors could be a break above the EMA 200 or a retest of the Point of Control (POC) level.</li> 
</ul> 
<h2 class="wp-block-heading" id="unpacking-gitcoin-more-than-just-a-token">Unpacking Gitcoin: More Than Just a Token</h2> 
<p>While the price of GTC is making headlines, it’s essential to note that Gitcoin is far more than just a cryptocurrency. It’s a burgeoning ecosystem that has seized the interest of builders, creators, and various protocols in the blockchain landscape.</p> 
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<p><strong>Mission &amp; Community:</strong> Gitcoin has risen to prominence owing to its mission of shaping the future of the open internet. The project has cultivated a robust community committed to fostering new infrastructure for Web3, comprising a suite of tools, technologies, and networks dedicated to open-source initiatives.</p> 
<p>This focus on open-source development and community support has been a driving factor in the coin’s remarkable ascent, suggesting that GTC’s current bullish behavior might be more than just a fleeting trend.</p> 
<p>The surge in GTC’s value is undeniably impressive, reflecting a confluence of strong technical indicators and an even stronger mission-driven community. As traders look for entry points and the crypto world watches with bated breath, it appears that Gitcoin is on track to carve out a unique space for itself in the blockchain universe. With its focus on open-source projects and a rapidly growing Web3 infrastructure, this might just be the beginning for Gitcoin’s GTC.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/gitcoins-gtc-defies-bear-market-with-40-explosion-whats-behind-the-surge/">Gitcoin’s GTC Defies Bear Market with 40% Explosion – What’s Behind the Surge?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Gitcoin’s GTC Defies Bear Market with 40% Explosion – What’s Behind the Surge?

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