GMX/USDT Falling Wedge formation. Need break or Down is coming
Updated
💎 GMX has certainly caught our eye. At present, GMX is rebounding within a demand zone and is encapsulated by a falling wedge formation. A surge in bullish momentum is anticipated if GMX can breach both the local resistance range of $36.20 - $36.80 and the falling wedge pattern.
💎 It's crucial to await a confirmed breakout to guard against potential false signals. If this bullish scenario unfolds, GMX could effortlessly ascend towards the supply zone, possibly even reaching the bearish OB.
💎 Conversely, if GMX faces rejection at the resistance and takes a downturn, it would be vital for it to find support and bounce back. Failure to do so might see GMX compromising its support level, signaling a bearish trajectory. In such a case, GMX might continue its descent towards a lower-demand zone.
💎 It's crucial to await a confirmed breakout to guard against potential false signals. If this bullish scenario unfolds, GMX could effortlessly ascend towards the supply zone, possibly even reaching the bearish OB.
💎 Conversely, if GMX faces rejection at the resistance and takes a downturn, it would be vital for it to find support and bounce back. Failure to do so might see GMX compromising its support level, signaling a bearish trajectory. In such a case, GMX might continue its descent towards a lower-demand zone.
Trade closed: target reached
Boom! #GMX is doing just what we said. Up 31.43% and looking good!
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