GateToken (GT): are we holding the level or preparing for a new wave?

In 2025, the project had a new driver - the launch of Gate Layer (L2-solution on OP Stack), where GT became the gas token.
It may seem that all of this should spark interest. But let's figure out what is really happening with the token.

Current situation

Price: approximately $16.2

Market capitalization: ~$1.9 billion

Circulating supply: ~119 million GT ( out of 300 million max )

ATH: ~$25.9 (January 2025)

The recent pressure factor is the unlocking of tokens at $111 million at the end of September. Such events usually increase supply and hinder the price from breaking through new levels.

Strengths
✅ Gate is one of the top exchanges, GT has an integrated market.
✅ Gate Layer can enhance the utility of the token.
✅ Deflationary mechanism: a portion of the tokens is burned.
✅ Growth potential with the successful development of the L2 ecosystem.

Risks
⚠️ Unlocking continues → pressure on the price.
⚠️ Competition with Arbitrum, Optimism, and other L2.
⚠️ High volatility: spikes and quick pullbacks.
⚠️ FDV is higher than the current capitalization → risk of further dilution.

Technical picture

Support: $15.5–16.2

Resistance: $17.5–18.5

The breakout $18 will open the way to $20–22.

While the price is moving sideways: the market is waiting for an impulse.

We will probably continue to drift in the sideways range of 15 - 18, I would like to go higher already.

GT currently looks like a token with "support from below", but also with a ceiling from above. In the short term, traders can operate in a sideways range, while long-term holders should monitor the activity of Gate Layer and the on-chain data of whales. It is they who will decide whether we will see a new surge to $25+ or a prolonged sideways movement.