$GMT GMX/USDT – Signs of Recovery Post-Downtrend

Current Price: $25.45 (-10.13%)

24h High: $28.34 | 24h Low: $24.48

24h Volume: GMX: 174,251.86 | USDT: 4.53M

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Technical Overview:

EMA Trends:

EMA(7): $25.37

EMA(25): $25.97

EMA(99): $27.74

The price is currently consolidating just below EMA(25), hinting at a potential short-term bounce.

Support Levels:

$24.50 (recent low)

$24.00 (strong psychological support)

Resistance Levels:

$25.60 (EMA 25)

$26.50 (interim resistance)

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Key Observations:

Recovery Attempt: GMX appears to be recovering from its $24.48 low, as buyers cautiously re-enter.

Volume Surge Needed: For sustained upward momentum, a significant volume spike is critical to breach resistance at $25.60.

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Potential Trade Setups:

🔵 Bullish Setup:

Entry Range: $25.30–$25.60

Targets: $26.00 (initial), $26.50 (extended)

Stop-loss: Below $24.80

🔴 Bearish Scenario:

Entry Trigger: Below $24.80

Targets: $24.50 (initial), $24.00 (extended)

Stop-loss: Above $25.60

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Market Sentiment:

While GMX shows early signs of recovery, the broader market sentiment remains cautious. Traders should monitor the $25.60 resistance level closely for a breakout confirmation. Stay alert for any significant volume changes.

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