Sam Cooling
Top Move-2-Earn (M2E) platform STEPN (GMT) has seen a challenging February – with tumbling price action for native $GMT token driving a -30% bleed-out month-on-month.
Disheartened sneaker-heads awoke today to a much needed local bounce – which leaves $GMT trading at a current price of $0.41 (representing a 24hr change of +6%).
The cascading $GMT token found critical support at $0.35 – as rally technical structure sat on the verge of complete breakdown.
$GMT holders breathed a sigh of relief with the 17% bounce saving price action from a month long -46.5% retracement.
Rejection from topside resistance around $0.68 on January 26 smacked the price down to current levels – marking an end to an impressive 200% New Years rally.
The RSI is signalling bullish divergence at 47 – an indication that GMT has become oversold.
This follows a month long RSI cool down after overheating to an incredibly bearish 85 on January 14.
STEPN Moving Averages Form Resistance For Perilous $GMT Technical Structure
However, the MACD illuminates a more pressing cause for concern – reading bearish divergence at -0.0020.
This reflects the precarious position of $GMT’s technical structure, which saw price levels fall below both the 20 and 200 day MAs in the first week of February.
These moving averages are now acting as an additional ceiling of local resistance – supressing upside price action.
Without breaking back above the MA levels – $GMT runs the risk of smothering out.
This predicament leaves traders with limited upside targets – indeed, $GMT is currently only targeting local resistance at $0.50 (a potential +20.5% move).
Downside risk is more significant here – precarious technical positioning leaves $GMT vulnerable to a breakdown.
A continuation of the tumbling trend would likely see $GMT drop down to the next support level at $0.25 (a potential -40% drop).
Overall, this leaves a $GMT Risk: Reward ratio of 0.5 – a bad entry characterised by twice as much risk.
Better Move-2-Earn Alternative Stealing Investor Attention?
With $GMT once more struggling to gain significant upside traction, capital seems to be continually bleeding out of the once promising project.
But that doesn’t mean capital has given up on the M2E sector – which still offers huge potential as developers seek to gamify health and fitness.
And one project seems set to become the biggest M2E presale of 2023 – with more than $5m raised – meet: Fight Out.
Become The Ultimate Fighter With Fight Out
Fight Out ($FGHT) is surging to becoming the biggest crypto presale of 2023 – with a jaw-dropping $5m raised by the fastest-growing Play 2 Earn project.
Market interest is gravitating toward move-2-earn (M2E), and Fight Out is poised to win big in the aftermath of STEPN’s failed recovery rally.
Boasting impressive blockchain technology, Fight Out is able to track and reward all types of exercise as it pits you on a quest to become the ultimate fighter.
By deploying innovative metrics using your phone’s in-built inertial measurement unit, Fight Out can track your training on the punching bag, your powerlifting progress, and even your time spent dancing on a Friday night.
This flows into a secondary play-2-earn (P2E) ecosystem that pits users head-to-head in high-octane challenges, game modes, and competitions.
Users compete using their ‘Soulbound’ NFT avatars. Soulbound means that the NFT cannot be resold, and will be a permanent representation of the user’s progress.
This is a big break away from an M2E sector that has all too often put up expensive barriers to entry, such as sneaker minting to the tune of $2,000. The Soulbound avatar enables users to hit the ground running, with no start-up cost, meaning your earnings are based on your achievements not the depth of your pockets.
With deep-seated character creation and customization, these NFT avatars become the digital embodiment of your hard work and progress.
As the avatar’s physique and stats level up based on your real-world achievements in the gym and the dojo.
How Will $FGHT token work?
Achievements reward the user with $REPS tokens, redeemable for platform native $FGHT tokens.
$FGHT can be accumulated, traded, or spent on in-app goods and other services, such as purchasing stylish NFT goods in the Fight Out marketplace.
This gamification of training is set to unlock a fitness revolution for a generation challenged by inactivity, with Fight Out designed to leverage psychological motivation to keep you focused on your regime.
By building out a community ecosystem, Fight Out is able to develop a social space that becomes center stage for high-stakes tournaments to win $REPS.
Fight Out Partner Elite Fighters Ahead of UFC 300
UFC 300 is approaching, and Fight Out are taking notice with betting to be opened soon using native $FGHT tokens. It is rumored that Fight Out will be offering a prize of $1,000,000 for the most accurate betting predictions.
Big names in the fighting world are coming out to support the ambitious Web3 venture, with UFC fighters Amanda Ribas and Taila Santos already onboarded as ambassadors. More UFC ambassadors will be announced in March.
And this isn’t limited to the world of MMA, as Champion Boxer Savannah Marshall joins the project to lead Ambassador challenges and contests.
Users can undertake ambassador-set challenges and participate in on-demand video classes centered on Strength and Conditioning, Cardio, Technique, and Mobility. Even offering the chance to go head to head against your heroes – in a Soulbound stat battle – could you train to beat them?
Fight Out Referral Program
The Fight Out team recently announced the launch of a lucrative referral promo link program. This gives users the ability to receive a 5% commission for signing up their friends.
Join the Fight Out presale and become an affiliate to earn exclusive rewards for referring your friends!
Connect your wallet on our website to get your custom link!
The future of #PlayToEarn is here! ⚡️https://t.co/9pikKGRjSd pic.twitter.com/TTr3QDbbWH
— Fight Out (@FightOut_) February 27, 2023
All users need to do is go to the Fight Out homepage, connect a valid crypto wallet, and then click on the 5% referral link button.
At this point, a unique referral link will be generated to earn you commission! Share the link with friends and family or post it to your social media.
This means every time someone buys the $FGHT token – you receive 5% of the purchase amount.
Fight Out $5m Presale Sets Stage For CEX Launches
The knockout funding round has seen Fight Out raise $5m from early backers. To encourage early token purchases, the price of the token increases every 12 hours.
$FGHT is currently priced at $0.0259 and the exchange listing price is expected to be $0.0333.
Fight Out will be listed on the following seven exchanges: LBank, XT.com, BKEX, Changelly Pro, BitForex, DigiFinex, and Uniswap.
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Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Sam Cooling.
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