$GMX /USDT Daily Chart Analysis ā š Strong Rebound!
Current Price: $22.96 (+14.40%)
Daily Range: High: $25.75 ā Low: $19.84
š Key Technical Insights:
š¹ Trend & Price Action:
Massive recovery from recent lows, showing strong bullish momentum.Bollinger Bands expansion, indicating high volatility and trend continuation.
š¹ Moving Averages (MA):
ā
Bullish: SMA 5, SMA 10, SMA 20 ā All confirm short-term uptrend.
ā ļø Bearish: SMA 50 ā Long-term trend still needs confirmation.
š¹ Momentum Indicators:
RSI (69.97) ā Approaching overbought zone, but strong momentum remains.
Stochastic RSI ā Bullish crossover, indicating further upside potential.
MACD ā Bearish crossover still lingers, requiring more confirmation.
ADX ā Bullish crossover, signaling trend strength is increasing.
š¹ Other Indicators:
MFI (Money Flow Index): Bullish range, suggesting continued buying pressure.
VWAP (Volume Weighted Average Price): Uptrend, reinforcing bullish momentum.
š Resistance & Support Levels to Watch:
š Key Resistance: $24.00, $26.50
š Key Support: $20.00, $18.50
ā ļø Outlook & Trading Plan:
ā
Bullish Scenario: If GMX breaks and holds above $24.00, it could extend gains to $26.50+.
ā ļø Bearish Risk: If profit-taking occurs, $20.00 support must hold to maintain the trend.
š¢ 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.
š„ Watch closely for the next move! šš
