Chart request - $GMX
On the 4h timeframe, $GMX has formed an ascending broadening wedge pattern. Currently, it is approaching its horizontal resistance zone. Notably, there's a horizontal support around $53. We're looking at two potential scenarios here. $GMX needs to successfully flip its horizontal resistance level to continue upward momentum. Alternatively, it might retrace to the horizontal support level, presenting an opportunity for a breakout of the resistance zone. Keep a close eye for a potential long position, either upon the retest of the horizontal resistance breakout or when it retraces to the horizontal support zone.
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