$GMX /USDT +0.44% — Struggling to Reclaim Trend, Eyes on $14.22 Resistance
GMX is trading at $13.55, posting a modest +0.44% gain, but remains in a recovery phase after dipping to a recent low of $12.98. While short-term momentum is picking up, price is still trapped below key moving averages.
Technical Overview:
24h Range: $12.98 – $13.92
Volume: 128.5K GMX / $1.72M USDT — modest activity
MA(7): $12.85 → short-term support
MA(25): $13.20 → being tested
MA(99): $14.38 → long-term downtrend still intact
Momentum Analysis:
Recent bounce from $12.98 low pushes price above MA(7) and MA(25), but it faces strong resistance at $14.22 and MA(99).
A decisive move past $14.38 is required to flip medium-term sentiment bullish.
MACD likely neutral to slightly bullish; RSI recovering from oversold zone.
Key Levels to Watch:
Immediate Resistance: $13.92 → $14.22 → $14.38 → $15.66
Support Zone: $13.20 → $12.85 → $12.00 → $11.34
Outlook:
Bias: Cautiously bullish above $13.20, but structure still fragile
Bullish Breakout Trigger: Clear move above $14.38
Bearish Risk: Drop below $12.85 opens path to $12 and $11.34
Conclusion: GMX is attempting a recovery, with price back above short-term MAs, but it must reclaim the $14.22–$14.38 zone to confirm bullish continuation. Until then, expect sideways to mild upside action as buyers try to regain control.