Cryptocurrency

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GMX price prediction is bearish as long as it trades below $40.00.</a> </li> 
 <li> <span>2</span> <a>GMX price is in a downtrend and struggles to defend $30.</a> </li> 
 <li> <span>3</span> <a>GMX price is trading below the 50 day and 200 day EMAs.</a> </li> 
</ul> 
<p>GMX’s short-term price prediction remains bearish as long as it continues to trade below the $40.00 level. The cryptocurrency has formed a bearish pattern, and the selling pressure continues.</p> 
<p>Currently, GMX’s price is trading below both the 50-day and 200-day EMAs, indicating a downtrend. However, given that prices have moved significantly away from the EMAs, a short-term pullback rally is possible.</p> 
<p>In mid-August, GMX’s price broke below a critical support level at $40.00, triggering a panic sell-off that led to a 10% drop in prices within a single day. The price hit a low of $28.16, but buyers stepped in, pushing the session’s close to $35.40.</p> 
<p>GMX price did not give the required follow-up momentum and got stuck into a narrow range. On the higher side $40.0 turned out as a strong hurdle, so buyers faced difficulty and prices reverted down once again.&nbsp;</p> 
<p>Presently, prices are trading near its yearly low and buyers are trying to defend the $30.00 support level.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/01/gmx-price-prediction-2023-24-can-gmx-crypto-crash-more/" target="_blank" rel="noreferrer noopener">GMX price</a> has corrected a lot compared to the previous month’s high. Consequently, a narrow range consolidation or a minor pullback is expected. GMX is trading at $32.76 with an intraday rise of 0.61%. The 24-hour volume to market cap is 3.63%.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-gmx-price-recover-in-september-strong"><strong>Will GMX Price Recover in September?&nbsp;</strong></h2> 
<div class="wp-block-image"> 
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  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-1024x434.png" alt="GMX Price Prediction September 2023: Will GMX Regain $40?" class="wp-image-165125" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-60.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   GMX/USDT daily chart by <a href="https://www.tradingview.com/x/sbWWVeiW/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>GMX price prediction suggests that GMX looks oversold and so a temporary pullback rally may be triggered anytime. The overall crypto market is mildly bearish which might negatively impact the prices of GMX and other altcoins.&nbsp;</p> 
<p>As long as GMX price is trading below $40.00, it is expected to remain bearish. A short-term bounce may arrive, but the reliability of the upward move will remain doubtful. However, if the buyers succeed in breaking the $40.00 hurdle, then the short-term trend will turn upward.&nbsp;</p> 
<p>The technical analysis suggests that GMX price is in a&nbsp; bearish grip and the possibility of sharp recovery remains low.</p> 
<h3 class="wp-block-heading" id="strong-gmx-cryptocurrency-price-fell-for-5-consecutive-weeks-strong"><strong>GMX Cryptocurrency Price fell for 5 Consecutive Weeks</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_58851"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "BINANCE:GMXUSDT",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_58851"

}

  );

  </script> 
</div>  
<p>GMX cryptocurrency price fell for five consecutive weeks and looks bearish on multiple time frames. Sellers seem to be more active as compared to buyers so investors need to be careful.&nbsp;</p> 
<p>The MACD curve slopes sideways indicating that bears are losing the momentum and that the price might consolidate for some time. On the other hand, the RSI at 29 denotes weakness but it is near to the oversold territory so a relief rally may be triggered&nbsp; at any time.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>GMX price will remain bearish for as long as it continues to trade below $40.00. However, the prices have corrected a lot from its monthly high so minor consolidation or a short-term bounce is possible.&nbsp;</p> 
<p>The analysis suggests that GMX crypto is in a downtrend and the possibility of regaining $40 in September remains low.&nbsp;&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $40.00 and $48.00</li> 
 <li>Support levels: $30.00 and $28.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

GMX Price Prediction September 2023: Will GMX Regain $40?

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