Million

Resistance

View

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The daily chart shows that the GMX price takes a bounce abc from the lower boundary of the declining channel.&nbsp;&nbsp;&nbsp;</a> </li> 
 <li> <span>2</span> <a>GMX price is up by 4.90% in the last 24 hours and it currently trades at $35.30.&nbsp;</a> </li> 
</ul> 
<p>The GMX price prediction illustrates that the crypto price has shown a recovery in the past 2 days after rebounding from the lower trendline of the declining channel pattern. The bulls accumulated near $30, a round level, and surged the price higher.<br><br>The daily chart shows that the bulls have successfully defended the level of $30. The daily chart shows that the crypto price is heading towards a 50-day EMA and the swing high will be in a bearish territory at the moment.<br><br>The bulls and bears are accumulating near both ends of the swing which illustrates that the price may undergo a consolidation until either side turns dominant.&nbsp;</p> 
<p>The price action analysis of the GMX crypto states that the crypto has been declining and rolling between the upper and lower boundaries of the declining parallel channel pattern formed over the daily timeframe. The GMX price also seemed to suffer rejection from the 200-day EMA and declined to the lower levels.</p> 
<h2 class="wp-block-heading" id="strong-gmx-price-prediction-using-price-action-strategy-strong"><strong>GMX Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-1024x478.png" alt="" class="wp-image-169457" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-567.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: GMX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The GMX price currently trades at $35.30 and might undergo a consolation with the sellers dominating near $38.8 and buyers getting aggressive near $30.09. The price trend may remain indecisive until the price is maintained in the channel.&nbsp;</p> 
<p>The breakout or breakdown of the channel may trigger a directional movement in price trends.&nbsp;</p> 
<p>The volume analysis shows that the GMX crypto has received $16.247 Million volume in the past 24 hours with a gain of 69.61% since the past day. The volume-to-market cap is 5.09% which indicates mild volatility in the crypto. The crypto holds a market cap of $319.16 Million with a gain of 3.94% in the last 24 hours.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-gmx-price-forecast-from-indicators-point-of-view-strong"><strong>GMX Price Forecast From Indicators’ Point of View</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-1024x478.png" alt="" class="wp-image-169458" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-568.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: GMX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the GMX price dropped below the 50-day and 200-day EMA indicating bearishness. The price must surpass the EMAs in order to surge higher.&nbsp;</p> 
<p>The relative strength index (RSI) line has crossed above the mean level, positioned above the 14-day SMA. This suggests a bullish crossover with the 14-day SMA, indicating strength in the price of GMX in the near future. The present value of stochastic RSI is 52.8 points whereas the 14-day SMA is moving around 36.6 points.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/07/gmx-price-forecast-2023-can-bulls-rebuild-control-over-charts/" target="_blank" rel="noopener noreferrer nofollow">GMX crypto price</a> has bounced from the lower trendline of the declining channel pattern and recovered some losses. The price is heading towards the 50-day EMA and the swing high, which may be a resistance zone. The price may consolidate between the buyers and sellers until a breakout or breakdown occurs. The volume analysis indicates mild volatility in the crypto. GMX has a market cap of $319.16 Million and a volume of $16.247 Million. The price currently trades at $35.30.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $30.09 and $25.4</li> 
 <li><strong>Resistance levels:</strong> $38.8 and $47.08</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 and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

GMX Price Prediction 2023: Will GMX Crypto Surge Above $50 Mark?

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