GameStop Share Price Tumbles Below $22 After Rejection at $29 – Meme Stock Mania Over?

The GameStop (GME) share price plummeted on Monday, crashing from a recent high of $29.79 to close at $21.73, erasing nearly all of last week’s surprise gains. The dramatic reversal has reignited debate around the future of meme stocks as volatility surges ahead of April.

After a brief Reddit-fueled revival sent shares soaring through $27.29 and testing the $29.79 resistance, the rally fizzled just as fast — a classic case of short-lived speculative momentum. With GameStop stock now hanging on the edge of key support at $21.54, the pressure is back on the bulls.

GME Stock Technical Outlook

• Resistance levels: $22.17, $24.81, $27.29, and $29.79
• Immediate support: $21.54, with deeper floors at $20.37 and $18.80
• MACD: Slightly bullish but flattening — momentum fading
• RSI: Neutral at 40.46, suggesting no extreme conditions, but trending lower

Despite the wild swings, GameStop stock remains trapped in a long-term range, and the rejection at $29 suggests bulls may have overplayed their hand. Unless buying volume returns, a slide below $20 could open the door to a full retracement of the March rally.

Meme Stock or Meltdown? GameStop’s April Outlook Hangs by a Thread

The GameStop share price is once again caught between meme-fueled hype and hard technical reality. With momentum stalling and the RSI edging lower, the recent spike looks more like a dead cat bounce than the start of a sustained rally.

Unless bulls quickly reclaim the $24.81 resistance zone, the path of least resistance could lead GME back to $20 or even lower. While the GameStop stock forecast for April 2025 isn’t entirely bearish, it hinges on one key question: can retail buyers return in force — or is the meme magic finally fading?

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