Resistance 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.
$GMX is bouncing off the support level. Bullish trend is expected to continue and reach the resistance at 58.68$
GMX 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. Follow us, like the idea and leave a comment below!!
Trade 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...
As long as our DR line is not broken, we can move towards the green zone
$GMX is bouncing off the resistance level. Decline to support level at 36.96$ is likely to happen.
$GMX bounced off the support level and the bullish trendline. Rise to resistance level at 57,62$ is possible.