$GMX /USDT Daily Chart Analysis – 🚀 Strong Rebound!
Current Price: $22.96 (+14.40%)
Daily Range: High: $25.75 – Low: $19.84
📊 Key Technical Insights:
🔹 Trend & Price Action:
Massive recovery from recent lows, showing strong bullish momentum.Bollinger Bands expansion, indicating high volatility and trend continuation.
🔹 Moving Averages (MA):
✅ Bullish: SMA 5, SMA 10, SMA 20 → All confirm short-term uptrend.
⚠️ Bearish: SMA 50 → Long-term trend still needs confirmation.
🔹 Momentum Indicators:
RSI (69.97) → Approaching overbought zone, but strong momentum remains.
Stochastic RSI → Bullish crossover, indicating further upside potential.
MACD → Bearish crossover still lingers, requiring more confirmation.
ADX → Bullish crossover, signaling trend strength is increasing.
🔹 Other Indicators:
MFI (Money Flow Index): Bullish range, suggesting continued buying pressure.
VWAP (Volume Weighted Average Price): Uptrend, reinforcing bullish momentum.
📉 Resistance & Support Levels to Watch:
🚀 Key Resistance: $24.00, $26.50
📉 Key Support: $20.00, $18.50
⚠️ Outlook & Trading Plan:
✅ Bullish Scenario: If GMX breaks and holds above $24.00, it could extend gains to $26.50+.
⚠️ Bearish Risk: If profit-taking occurs, $20.00 support must hold to maintain the trend.
📢 Conclusion: GMX is in a strong rebound, but a break above $24.00 is needed for confirmation. RSI is near overbought, so short-term pullbacks may happen.
🔥 Watch closely for the next move! 🚀📈
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