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<p>The decentralized exchange token GMX has seen its price increase 8.55% over the last 24 hours to <a href="https://coinmarketcap.com/currencies/gmx/" target="_blank" rel="noopener noreferrer nofollow">$56.53</a>, according to CoinMarketcap. This latest price surge comes on the heels of a prolonged period of accumulation since the token was first listed on the major cryptocurrency exchange Binance.</p>
<h2 class="wp-block-heading" id="strong-bullish-sentiment-building-strong"><strong>Bullish Sentiment Building</strong></h2>
<p>As <a href="https://x.com/JJcycles/status/1763482170364969029?s=20" target="_blank" rel="noopener noreferrer nofollow">noted</a> by the crypto trader JJcycles, many investors had given up on GMX during its period of lackluster price action. However, those who continued to purchase the token in anticipation of a breakout now stand poised to benefit. JJcycles predicts a “huge rally is about to kick off” as GMX appears ready to exit its multi-month accumulation pattern.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="644" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-1024x644.png" alt="" class="wp-image-446352" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-1024x644.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-300x189.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-767x482.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-1536x966.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-2048x1288.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-239x150.png 239w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-557x350.png 557w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26-788x495.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-26.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="strong-fundamentals-and-technicals-align-strong"><strong>Fundamentals and Technicals Align</strong></h2>
<p>The technical analysis account Universe of Crypto <a href="https://x.com/UniverseCrypto7/status/1763214091219259778?s=20" target="_blank" rel="noopener noreferrer nofollow">echoed</a> a similarly optimistic perspective on GMX. They pointed to GMX trying to clear a long-term descending trendline and noted that a successful breakout and retest of this level could spur the token to new all-time highs.</p>
<p>Yet another analyst, PROPHETHODLER, highlighted the 17.45% increase in total value locked on GMX’s Arbitrum-based decentralized exchange protocol over the past month. This growth, along with rising protocol fees, adds credibility to the bullish chart setup noted by others. PROPHETHODLER <a href="https://x.com/prophethodler/status/1763466927396077608?s=20" target="_blank" rel="noopener noreferrer nofollow">stated</a> optimistically, “Chart setup almost too good to be true.”</p>
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<p>With multiple industry experts identifying the potential for a GMX breakout across both fundamental and technical metrics, traders old and new seem to be taking notice. Time will tell whether this renewed enthusiasm can translate to a sustained uptrend for the embattled token.</p>
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<p>The post <a href="https://captainaltcoin.com/gmx-price-soars-expert-predicts-huge-rally-heres-his-outlook/" rel="noopener noreferrer nofollow">GMX Price Soars: Expert Predicts ‘Huge Rally” – Here’s His Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

GMX Price Soars: Expert Predicts ‘Huge Rally” – Here’s His Outlook

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