💎#GMXUSDT has shown promising signs of a potential bullish reversal. After breaking the downtrend trendline, the price found support at the previous supply area, which has now transformed into a demand zone. Additionally, the 200 Moving Average and 50% Fibonacci retracement level are acting as strong support. The MACD has also signaled a bullish divergence, indicating a possible pullback or continuation of the long-term uptrend.
💎Overall, the outlook for
GMX is bullish in the long term, contingent upon the price staying above the current demand area. The upside target of $70.5, marked by a double Fibonacci resistance, looks enticing.
💎On the other hand, if the price breaks and closes below the current Fibonacci support, it may signal a continuation of downside pressure.
💎Overall, the outlook for
GMX is bullish in the long term, contingent upon the price staying above the current demand area. The upside target of $70.5, marked by a double Fibonacci resistance, looks enticing. 💎On the other hand, if the price breaks and closes below the current Fibonacci support, it may signal a continuation of downside pressure.
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