$GMX /USDT Daily Chart Analysis โ ๐ Strong Rebound!
Current Price: $22.96 (+14.40%)
Daily Range: High: $25.75 โ Low: $19.84
๐ Key Technical Insights:
๐น Trend & Price Action:
Massive recovery from recent lows, showing strong bullish momentum.Bollinger Bands expansion, indicating high volatility and trend continuation.
๐น Moving Averages (MA):
โ
Bullish: SMA 5, SMA 10, SMA 20 โ All confirm short-term uptrend.
โ ๏ธ Bearish: SMA 50 โ Long-term trend still needs confirmation.
๐น Momentum Indicators:
RSI (69.97) โ Approaching overbought zone, but strong momentum remains.
Stochastic RSI โ Bullish crossover, indicating further upside potential.
MACD โ Bearish crossover still lingers, requiring more confirmation.
ADX โ Bullish crossover, signaling trend strength is increasing.
๐น Other Indicators:
MFI (Money Flow Index): Bullish range, suggesting continued buying pressure.
VWAP (Volume Weighted Average Price): Uptrend, reinforcing bullish momentum.
๐ Resistance & Support Levels to Watch:
๐ Key Resistance: $24.00, $26.50
๐ Key Support: $20.00, $18.50
โ ๏ธ Outlook & Trading Plan:
โ
Bullish Scenario: If GMX breaks and holds above $24.00, it could extend gains to $26.50+.
โ ๏ธ Bearish Risk: If profit-taking occurs, $20.00 support must hold to maintain the trend.
๐ข 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.
๐ฅ Watch closely for the next move! ๐๐
