Technical Analysis for $GMX
/USDT
Current Price: $24.32
Support: $23.38 (Low of 24h)
Resistance: $25.17 (High of 24h)
Key Indicators:
RSI: Neutral (around 50, indicating no clear overbought or oversold condition)
MACD: Bullish crossover with a moderate upward momentum
Moving Averages: 50-period moving average above the 200-period moving average (indicating an overall bullish trend)
Trade Signal:
Buy Entry: Near $23.60 (support level)
Target Levels:
1. Target 1: $24.80
2. Target 2: $25.15 (resistance)
3. Target 3: $25.50
Momentum: The market is currently showing mild bullish momentum with consolidation near support. A breakout above the resistance at $25.17 could push the price towards $25.50, signaling strength in the uptrend. Stay cautious of potential pullbacks towards $23.38 as a risk management level.
Stop Loss: Set around $23.00 to manage downside risk.