GMX continuationVery little chart history but strong fundamentals and a retest of some key support complete with bounce.
Looking for a retest of ATH over the next few weeks.
A nice reaction to the support outlined
GMXUSDT
long GMX$GMX is bouncing off the bullish trendline. The trend is expected to continue and rhea the resistance levels at 64$
GMX - Bullish TriggerResistance in red zone. Support in green. Right now we're crabbing between zones.
- If it closes 4h candles above resistance, it's poised to run to new ATHs.
- If it closes 4h candles below support, it probably drops to new local lows.
long GMX$GMX is bouncing off the support level. Bullish trend is expected to continue and reach the resistance at 58.68$
GMXUSDT Inverse Head and Shoulders target $86GMX recently broke out of an Inverse Head and Shoulders, a pattern that technically starts bullish reversals. Based on the RSI, one last pull back to the 1D MA50 isn't out of the question but it is highly probable to see GMXUSDT at $86 (2.0 Fibonacci) by the end of the year.
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GMX: Sideways ChannelTrade setup : Trading in a Sideways Channel ($30-$60). Swing trader: Enter near support at $30 and Exit near resistance of $60. Trend traders: Wait for a breakout above $60 to signal Uptrend resumption. Our own fundamental research recently highlighted GMX as a big beneficiary of FTX fallout.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $30. The nearest Resistance Zone is $50, which it broke, then $60.
short GMX$GMX is bouncing off the resistance level. Decline to support level at 36.96$ is likely to happen.
long GMX$GMX bounced off the support level and the bullish trendline. Rise to resistance level at 57,62$ is possible.
