Gitcoin (GTC) jumps nearly 6% in intraday trading

Gitcoin (GTC) has risen in intraday trading today, gaining nearly 6% at time of publication. All momentum indicators also point to a decent and steady uptrend. The coin has been on the rise since late November. In fact, at one point it was trading well above $ 20, although some of those gains have retracted. So, is it time to buy Gitcoin (GTC) and how far can that momentum go? Here are some highlights:

• Gitcoin (GTC) is trending higher with all momentum indicators looking very positive in the near term.

• The coin has jumped nearly 50% in just a month despite the recent market-wide crypto correction.

• Some analysts are extremely bullish on GTC, considering a price of $ 23.3 in this surge

Data source: Tradingview.com

Gitcoin (GTC) - price action and analysis

GTC's growth over the past month has been quite impressive. At the end of November, the coin was hovering around $ 7.5. Despite a crypto sell off in early December, GTC was able to hold on and eventually the coin broke through its air resistance of $ 9.91.

Since then, it has been a bullish push that took GTC to well over $ 20 at one point. At the time of writing, the coin was trading at $ 11.82. While it's clear that GTC has made some of these superb gains, it is still trading well above 70% from its late November lows. Analysts also remain extremely bullish around GTC, with some estimating a near-term increase that will push the coin back above $ 20.

Should you buy Gitcoin (GTC)

The best time to buy GTCs would have been a month ago, when he took the plunge. But there are still a lot of benefits for growth. For short-term speculative traders, it is likely that GTC will hit $ 20 in the short term, which will give you the perfect opportunity to take advantage of this bullish surge.