GMX just took a massive 25.15% hit, plunging to $18.15. With volatility spiking and RSI still above 60, traders are split between fear and FOMO. Letโs dissect the chaos.
๐ Price Action & Technicals
- Current Price: $18.15
- 24H Range: $17.42 โ $24.91
- Volume: 4.69M GMX / 93.58M USDT โ heavy sell-off
- RSI (14): 62.10 โ surprisingly strong, suggesting bounce potential
- MA(5): 272K vs MA(10): 613K โ bearish crossover confirmed
- Chart Pattern: Sharp drop, possible capitulation candle forming
๐ Scenario Breakdown
- Bullish Case: RSI > 60 hints at resilience; reclaiming $20.00 could trigger short squeeze toward $22.50
- Bearish Case: If $17.42 breaks, next support sits near $15.80 โ high risk zone
- Neutral Case: Sideways chop between $18โ$20 as market digests the dump
๐ Sentiment Meter
๐จ Fear โ Heavy volume + sharp drop = panic selling
๐ก RSI suggests bounce, but trend remains fragile
โ ๏ธ Risk Level
๐ด High โ Volatility extreme, trend unclear
๐ฌ Whatโs your move?
๐ข Buying the dip or ๐ waiting for confirmation?
๐ Drop your chart view below ๐
๐ Comment your bias: Bullish or Bearish?
๐ Follow @TheCryptoMalik for real-time breakdowns, sentiment meters, and risk-level insights across Binance Square.
GMXUSDT #CryptoCrash #BinanceSquare #AltcoinWatch #BinanceTurns8
โ ๏ธ Disclaimer: This is for educational purposes only and is not financial advice.