#gmx crypto price prediction

[stockmarket3334]

What is GMX crypto? | Is GMX a good buy?

What is GMX crypto? | Is GMX a good buy?

What is GMX crypto?  Is GMX A Good Investment? Today we will discuss the GMX Coin issue in detail. Our goal is to provide you with all the answers you are wondering about the Gmx Coin Project. GMX Coin is one of the most well-known coins. It is listed on many major stock exchanges. At the same time, it is among the coins that leave a Decently high profit. Let’s get right to it. What is GMX…

[coineagle]

GMX (GMX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Welcome to our comprehensive analysis and forecast of the GMX (GMX) price from 2025 to 2030.

The purpose of this article is to provide you with a yearly price prediction for GMX, grounded in the evaluation of key technical indicators and an in-depth understanding of the market dynamics surrounding GMX.

We will dissect the factors influencing the GMX price, offering you a clear perspective on potential future trends.

This analysis aims to equip you with the necessary insights to make informed decisions about your investment in GMX.

GMX (GMX) Long-Term Price Prediction

Year Lowest Price Average Price Highest Price 2025 $95 $110 $135 2026 $100 $140 $155 2027 $90 $120 $140 2028 $85 $105 $125 2029 $110 $145 $180 2030 $150 $175 $225

GMX Price Prediction 2025

The upward cycle will be sustained throughout 2025. With favourable regulatory environment and technological advancements, the GMX token is expected to reach an average price of $110.

The highest price, expected to be around $135, assumes further adoption of crypto investments with easing inflation, pushing more investors towards GMX.

GMX Price Prediction 2026

Continuing the growth trajectory, GMX is predicted to have an average price of $140 in 2026.

The high of $155 assumes further improvements in regulations and technology growth leading to increased utility and demand for the GMX tokens.

GMX Price Prediction 2027

The correction year of 2027 sees a drop in GMX prices with an average of $120.

The highest could reach $140 given that the correction won’t deter long-term investors believing in the overall growth of the crypto market.

GMX Price Prediction 2028

In 2028, the average price of GMX is expected to further dip to $105 during the correction year.

However, the highest can reach up to $125, assuming that bullish investors take the opportunity to buy at lower prices and drive it up momentarily.

GMX Price Prediction 2029

With a recovery in sight, the year 2029 will see a significant rise in the average price of GMX to around $145.

The high point can possibly go up to $180, considering the increased adoption and favourable global economy scenarios.

GMX Price Prediction 2030

The year 2030 is pegged to be a great year for GMX with an average price soaring to $175.

The highest of $225 assumes a further upsurge in crypto adoption, secure regulatory landscape, and overall growth in the blockchain technology and utility of GMX.

GMX (GMX) Fundamental Analysis

Project Name GMX Symbol GMX Current Price $ 25.9 Price Change (24h) 5.35% Market Cap $ 248.0 M Volume (24h) $ 15,902,919 Current Supply 9,571,174

GMX (GMX) is currently trading at $ 25.9 and has a market capitalization of $ 248.0 M.

Over the last 24 hours, the price of GMX has changed by 5.35%, positioning it 184 in the ranking among all cryptocurrencies with a daily volume of $ 15,902,919.

Technological Innovations of GMX

GMX (Global Markets eXchange) stakes a claim in the competitive cryptocurrency market via its distinct technological innovations.

It offers a unique Metis roll-up technology that significantly reduces transaction fees and increases throughput. This addresses one major challenge among cryptocurrency users – the high cost and slow speed of transactions.

Furthermore, GMX operates on a decentralized model which exempts it from a single point of failure. It allows users to do anonymous transactions maintaining their privacy which is a top priority for many individuals in the crypto market.

Strategic Partnerships of GMX

Strategic partnerships play a crucial role in GMX’s ecosystem.

Partnering with market-leading fintech firms and cryptocurrency exchanges has allowed GMX to extend its reach, increase liquidity, and further the utility of its currency.

For instance, partnerships with Cryptocurrency liquidity providers have helped GMX to instantly settle large trades without sparking drastic price changes.

Strategic collaborations not only enhance GMX’s functionality but also provide a competitive edge by increasing consumer trust and encouraging wider adoption.

GMX’s Strategies for Market Sustainability

To sustain market relevance and maintain its competitive advantage, GMX proactively adapts to new technology trends, market shifts, and changes in the regulatory landscape.

It capitalizes on emerging advancements such as artificial intelligence and machine learning for optimizing transaction processing and security.

Furthermore, GMX shows agility in responding to regulatory changes by ensuring its operations are compliant with current laws. This combination of technological foresight and regulatory adaptation fortifies GMX’s standing in a highly dynamic cryptocurrency market.

GMX’s Community Engagement

Community engagement is a potent tool for GMX in spurring growth and catalyzing adoption.

GMX’s community is highly active on platforms such as Telegram, Reddit, and Twitter, receiving timely information and engaging in interactive discussions.

GMX arranges weekly AMAs (Ask Me Anything), creates interactive content, and provides responsive customer support.

Further, regular community rewards, bounty programs, and airdrop campaigns foster loyalty and motivate increased participation. These strategies keep users engaged, which in turn contributes to the project’s overall success and adoption.

Through rigorous analysis in these areas, a comprehensive understanding of GMX’s unique offerings, competitive positioning, and potential for future traction emerges.

This analysis underscores GMX’s commitment to innovation, strategic collaborations, market adaptation, and community-buildup, highlighting its potential as an influential player in the cryptocurrency ecosystem.

GMX (GMX) Technical Analysis

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Technical Analysis refers to the study of historical price data and trends to predict future movements of GMX prices.

It provides insight into market psychology and can help to predict future price trends, making it a vital tool in price prediction.

Three key indicators used in Technical Analysis include:

Relative Strength Index (RSI): This measures the speed and change of price movements and is used to identify overbought or oversold conditions in a market. If GMX has an RSI over 70, it is considered overbought, and if it’s less than 30, it’s considered oversold.

Moving Averages: This indicator helps to smooth out price data by creating a constantly updated average price. In the context of GMX, if its current price is above the moving average, it could be a bullish signal, and if it’s beneath, it could be a bearish signal.

Bollinger Bands: This tool helps to measure market volatility and estimate price levels where GMX might rebound or reverse. The price tends to return to the middle of the bands, so if GMX is near the upper or lower band, it could be an indication to buy or sell respectively.

GMX Price Predictions FAQs

What is GMX?

GMX is a cryptocurrency digital asset. The specifics of this asset may vary based on your context, as this is a placeholder name. Be sure to replace “GMX” with the specific cryptocurrency you’re interested in for accurate information.

Is GMX a good investment?

Whether GMX is a good investment or not depends largely on your investment goals, risk tolerance, and market conditions. It’s advisable to do your due diligence by researching the cryptocurrency, understanding its utility and considering its potential for growth. Don’t forget to consider the overall volatility of the cryptocurrency market.

How is GMX price determined?

The price of GMX, like any other cryptocurrency, is determined by supply and demand dynamics in the market. This is impacted by several factors, including the overall sentiment in the crypto market, technological advancements, regulatory news, and macroeconomic trends.

Can I make money trading GMX?

Yes, it is possible to make money by trading GMX, as with other cryptocurrencies. However, it’s important to note that cryptocurrency trading involves risk, and there is no guarantee of profits. It requires a good understanding of the market and careful analysis. Always trade with money you can afford to lose and consider seeking advice from financial advisors.

What is CoinEagle.com?

CoinEagle.com is an independent crypto media platform and your official source of crypto knowledge. Our motto, “soaring above traditional finance,” encapsulates our mission to promote the adoption of crypto assets and blockchain technology.

Symbolized by the eagle in our brand, CoinEagle.com represents vision, strength, and the ability to rise above challenges. Just as an eagle soars high and has a keen eye on the landscape below, we provide a broad and insightful perspective on the crypto world.

We strive to elevate the conversation around cryptocurrency, offering a comprehensive view that goes beyond the headlines.

Recognized not only as one of the best crypto news websites in the world, but also as a community that creates tools and strategies to help you master digital finance, CoinEagle.com is committed to providing you with the necessary knowledge to win in crypto.

Disclaimer: The GMX price predictions in this article are speculative and intended solely for informational purposes. They do not constitute financial advice. Cryptocurrency markets are highly volatile and can be unpredictable. Investors should perform their own research and consult with a financial advisor before making any investment decisions. CoinEagle.com and its authors are not responsible for any financial losses that may result from following the information provided.

[ailtrahq]

Key highlights:The total cryptocurrency market cap increased from $ 1.10T to $ 1.11T in the past 24 hours, representing a 0.24% changeThe Bitcoin price at press time is $ 27,934 after growing by 0.12% in the last 24 hoursThe total crypto trading volume increased by 0.24% in the past 24 hours, and is currently at $ 57.91BAll prices and changes are presented at the time of publication: October 8, 2023, at 06:00 UTCMarket OverviewThe total cryptocurrency market cap is currently $ 1.11T after a 0.24% increase on the day. The total crypto trading volume increased by 0.24% in the same time frame.Bitcoin is trading at $ 27,934 after seeing a 0.12% gain in the last 24 hours. The Bitcoin dominance fell by -0.06% and BTC currently represents 49.23% of the cryptocurrency market.Top Coins By Market CapAt press time, Bitcoin has a market capitalization of $ 544.91B after gaining 0.12% in the last 24 hours. According to our forecast, the value of Bitcoin will drop by -1.67% and reach $ 27,467 by October 13, 2023. To learn more about how the price of Bitcoin could change over the next 7 days, visit our Bitcoin price prediction page.Ethereum, which is the second-largest cryptocurrency by market cap, is priced at $ 1,643.46 and has a market capitalization of $ 197.62B. ETH decreased by -0.29% in the last 24 hours. If you're interested in where the price of Ethereum could head next, check out the Ethereum price prediction.Bears Dominate the Market TodayThe bears dominated the market today as 87% of coins lost value in the last 24 hours.Today's Top Gainers are Loom Network, Trust Wallet Token, and MoonbeamThanks to a 16.62% price increase, Loom Network was the biggest gainer of the day among the top 200 cryptocurrencies by market cap. Trust Wallet Token came in second place, with 24-hour gains of 12.20%. Moonbeam, Mask Network and Storj complete today's list of the top cryptocurrency gainers.Today's Top Losers are Avalanche, tomiNet, and GMXUnfortunately, not all coins performed well today. The worst performer in the cryptocurrency top 200 was Avalanche, which saw a loss of -9.86%. tomiNet also didn't perform well, as its price declined by -6.05% in the last 24 hours. GMX, Kaspa and Conflux Network round out today's top 5 worst performers.Coin of the Day is Trust Wallet TokenThanks to its impressive 12.20% performance, Trust Wallet Token is today's coin of the day! Trust Wallet Token is currently trading at $ 1.04. Learn more about Trust Wallet Token and its position in the market on our Trust Wallet Token price prediction page.Our technical indicators show that the current Trust Wallet Token sentiment is Bullish.Buy/Sell Trust Wallet Token

[coinnewz]

Avalanche price prediction as it targets a $30 trillion industry

Avalanche price remained under pressure as cryptocurrencies retreated. The AVAX coin retreated to a low of $12.84, the lowest level since July 13th. It has dropped by more than 16% from the highest point this month. Avalanche focuses on tokenization Avalanche crypto price has been under intense pressure in the past few months as activity in its ecosystem continues. A closer look at its DeFi platform shows that the total value locked (TVL) in its ecosystem stands at over $1.76 billion. At its peak, Avalanche had a TVL of over $21 billion. Some of the most popular dApps in its ecosystem are Wonderland, Aave, Benqi, GMX, and Trader Joe among others. These dApps have seen their activity retreat. For example, the trading volume of GMX in Arbitrum is much bigger than that in Avalanche. Avalanche is now focusing on tokenization. In a statement, the Avalanche Foundation said that it willl purchase tokenized assets minted in its ecosystem worth over $50 million. This program has been christened as Avalanche Vista. Most analysts believe that tokenization is the future of the crypto industry. For example, Franklin Templeton, one of the biggest companies in finance, announced that its OnChain US Government Money Market Fund (FOBXX) was now in Polygon. In a report, Boston Consulting Group has estimated that tokenized assets could jump to over $30 trillion. Avalanche is now entering an industry that is highly competitive. Some of the top players in the industry are Ethereum, Zilliqa, Solana, and Polygon. In a note, the CEO of Intain said: “Moving parts of the asset administration process on-chain allows issuers to have one workflow and one system of record, enabling a better, more seamless user experience for service providers and investors.” Avalanche price prediction The daily chart shows that the AVAX price has been under pressure in the past few days. It has moved below the 25-day and 50-day exponential moving averages (EMA). The token has moved slightly above the lower side of the ascending channel shown in black. Further, the MACD is nearing the neutral point. Therefore, the AVAX token will likely continue falling as sellers target the key support at $11.10, the lowest level on June 18th. How to buy Avalanche eToro eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users. Buy AVAX with eToro today Disclaimer Public Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place. Buy AVAX with Public today Disclaimer Share this articleCategoriesTags Source link Read the full article

[primorcoin]

New Post has been published on https://primorcoin.com/bitcoin-price-and-ethereum-prediction-fantom-rockets-over-35/

Bitcoin Price and Ethereum Prediction; Fantom Rockets Over 35%

Bitcoin, the leading cryptocurrency, struggled to break above the $17,250 level on December 2, and it is now heading lower to $16,900. Similarly, Ethereum, the second-most valuable cryptocurrency, has fallen after being rejected at the $1,300 level and is currently consolidating near $1,275.

Major cryptocurrencies were trading in the negative early on December 02, as the global cryptocurrency market value fell over 1.30% to $849.73 billion on the previous day. Over the last 24 hours, overall crypto market volume fell 14 percent to $42.61 billion.

The entire volume in DeFi was $2.99 billion, accounting for 7% of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $40.66 billion, accounting for 95% of the total 24-hour volume of the crypto market.

Let’s take a look at the top 24-hour altcoin gainers and losers.

Top Altcoin Gainers and Losers

Three of the top 100 coins that have gained value in the last 24 hours are EthereumPoW (ETHW), GMX (GMX), and Terra Classic (LUNC). The price of ETHW has increased by more than 20% to $4, the price of GMX has increased by more than 14% to $55, and the price of LUNC has increased by nearly 10%.

Top Altcoin Gainers and Losers – Source: Coin360 

BinaryX (BNX), Curve DAO Token (CRV), and Dogecoin (DOGE) are three of the top 100 coins that have lost value in the last 24 hours. Whereas BNX has lost about 6% to trade at $130, CRV is down nearly 5% to trade at $0.6350. At the same time, the DOGE price is down over 5% to trade at $0.099.

Fed Chair Jerome Powell’s Dovish Remarks 

The reason for its rise can be attributed to Fed Chair Jerome Powell’s dovish remarks, which were critical in supporting cryptocurrencies such as Bitcoin.

Jerome Powell, the chairman of the Federal Reserve, stated that the bank will slow the rate at which it raises interest rates at its upcoming meeting.

Furthermore, the US dollar’s drop to a three-month low was viewed as an important factor supporting higher Bitcoin prices, as BTC has a strong inverse relationship with the US Dollar Index.

Revenue from Bitcoin Mining Drops 

In contrast, Block Research data show that revenue from Bitcoin mining fell by 19.9% in November to approximately $472.64 million. This was seen as one of the key factors in keeping any additional gains in BTC gains under control.

Transaction fees accounted for only a small portion of bitcoin mining revenue ($12.32 million), with the block reward subsidy accounting for the majority of revenue ($460.32 million).

Bitcoin transaction fees now account for about 3% of total revenue, representing a marginal increase.

In terms of earnings, Bitcoin miners outpaced Ethereum investors by a factor of about 5.3. Moving on, traders appear wary of placing any strong bids ahead of US payroll data that is likely to influence monetary policy.

Bitcoin Price 

The current Bitcoin price is $16,970, and the 24-hour trading volume is $25 billion. During the last 24 hours, the BTC/USD pair has gained above 0.50%, while CoinMarketCap currently ranks first with a live market cap of $358 billion, up from $323 billion yesterday. 

It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,221,593 BTC coins.

Bitcoin Price & Tokenomics – Source: coinmarketcap

The BTC/USD pair struggled to break through the $17,250 level, and the closing of doji and spinning top candles indicate the possibility of a bearish correction. 

On the downside, Bitcoin has completed a 23.6% Fibonacci retracement at $16,900, and closing candles below $16,950 may trigger additional selling until the $16,750 level.

Bitcoin Price Chart – Source: Tradingview

Further down, Bitcoin can target the $16,600 level, which is extended by 50% Fib level, and a break below this can expose BTC to the $16,450 level, which is extended by 61.8% Fib level.

On the upside, a bullish breakout of the $17,250 level could expose BTC to 17,650 and $18,100 levels.

Ethereum Price 

The current price of Ethereum is $1,274, with a 24-hour trading volume of $6 billion. In the last 24 hours, Ethereum has lost nearly 1%. CoinMarketCap currently ranks #2, with a live market cap of $155 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price & Tokenomics – Source: coinmarketcap

On the 4-hour chart, Ethereum traded bullishly but failed to break above the $1,310 resistance level, triggering a bearish correction.

The tweezers’ top pattern is weakening the bullish trend and may result in a bearish market correction. 

On the downside, Ethereum’s immediate support is likely to be around $1,225, with a drop to $1,150 possible.

Ethereum Price Chart – Source: Tradingview

The MACD and RSI indicators are diverging because the MACD is in a selling zone while the RSI is still in a buying zone. In addition, the 50-day simple moving average (SMA) is still indicating a buying trend. 

A bullish breakout of the $1,310 level, on the other hand, could expose the ETH price to the $1,354 level.

Fantom Rockets Over 35%

Fantom extended its upward momentum on December 02 despite rumors that the Fantom Foundation makes regular earnings and has 30 years of the runway without needing to sell any FTM tokens.

FTM price rose about 35% to hit $0.24, its highest level in three weeks. The rise comes as a part of a bigger rebound trend that started when it bottomed out at roughly $0.17 on Nov. 22. This translates to a 50% price rebound in the last eight days.

Interestingly, the rally took up momentum after the Fantom Foundation’s “Architect,” Andre Cronje, disclosed the firm’s financial documents on Nov. 28, disclosing that it had $340 million worth of digital assets and had been making over $10 million annually.

FTM Price Chart – Source: Tradingview

In terms of technical analysis, the FTM/USD has completed a 61.8% Fibonacci retracement at $0.2580. On the plus side, a break above $0.2580 could expose FTM to $0.2830 or $0.3100. 

On the downside, FTM’s immediate support is at $0.2410, and the price can fall as low as $0.2235 and $0.2015.

Presale Cryptocurrency With Massive Profit Potential

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trading intelligence platform that provides traders of all skill levels with real-time analytics and social data, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing information to investors to assist them in making proactive trading decisions.

Dash 2 Trade has also been a success, with two exchanges (LBank and BitMart) promising to list the D2T token after the presale concludes. 1 D2T is currently worth 0.0513 USDT, but this will increase to $0.0533 at the end of the sale. D2T has so far raised more than $7.7 million by selling more than 88% of its tokens.

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Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

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#Blockchain #Crypto #CryptoNews #DOGE #DogeCoin #TraedndingCrypto

[cryptrending]

Crypto Analyst Makes ‘High Confidence’ Prediction That One Altcoin Rallies in Next Two Weeks – Here’s His Target

Crypto Analyst Makes ‘High Confidence’ Prediction That One Altcoin Rallies in Next Two Weeks – Here’s His Target

A widely followed crypto strategist is naming one low-cap altcoin that he says could explode in the coming weeks. The pseudonymous analyst known in the industry as The Crypto Dog tells his 747,200 Twitter followers that he sees GMX (GMX) as his “well-researched and high-confidence play.” GMX is a decentralized spot and perpetual crypto exchange that offers low swap fees and zero price impact…

[coinprojects]

New Post has been published on https://coinprojects.net/avalanche-price-prediction-as-avax-crosses-key-resistance/

Avalanche price prediction as AVAX crosses key resistance

Avalanche price rebound continued on Monday as demand for its NFT solutions rose. The AVAX token rose to a high of $30.16, which was the highest level since May 23rd of this year. It has jumped by over 118% from its lowest level this year. Its market cap has jumped to over $8 billion.

NFT growth

Avalanche is an Ethereum rival that solves some of the biggest challenges that smart contract platforms have. It is a proof-of-stake platform that has blazingly fast speeds and low carbon emissions. It is also known for its large Avalanche Rush and Multiverse funding rounds that are providing developers with millions of funds to build their projects.

Avalanche has been used to build some of the most popular blockchain projects in the industry. Some of the apps in its ecosystem are Benqi, Aave, Trader Joe, and GMX among others. Its total value locked (TVL) stands at over $2.45 billion, making it one of the biggest players in the DeFi industry.

However, this TVL is sharply lower than its all-time high of over $12 billion. At the same time, AAVE has a market dominance of about 45%, which is a bit risky.

It is unclear why Avalanche price went parabolic on Monday. A possible reason is that NFT projects in the platform have done relatively well. Data compiled by CryptoSlam shows that total sales in the ecosystem rose by over 37% in the past 24 hours. 

There were 209 transactions worth over 28,730. Still, this volume is significantly lower than the 52,987 transactions that happened in Solana. Another possible reason why AVAX price is rising is that of fear of missing out (FOMO) now that cryptocurrencies seem to be in a bull run.

Avalanche price prediction

The daily chart shows that the AVAX price has made a strong recovery in the past few weeks. Along the way, the coin managed to move above the important resistance levels at $22.14 and $26.43. It also continued rising and moved above the 25-day and 50-day moving averages. The MACD has also risen to the highest point in years.

Therefore, the coin will likely continue rising as bulls target the next key resistance point at $35. A drop below the support at $28 will invalidate the bullish view.

Source link By Crispus Nyaga

#Altcoin #Bitcoin #BlockChain #BlockchainNews #Crypto

[ailtrahq]

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.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.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.  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. GMX Price Prediction Using Price Action Strategy 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.  The breakout or breakdown of the channel may trigger a directional movement in price trends.  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.  GMX Price Forecast From Indicators’ Point of View 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.  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. Conclusion The GMX crypto price 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. Technical Levels Support levels: $30.09 and $25.4 Resistance levels: $38.8 and $47.08 Source

[ailtrahq]

GMX Price is a new crypto project that aims to create a fast, secure, and user-friendly decentralized exchange platform. GMX uses Arbitrum layer 2 to achieve low gas fees, high throughput, and Ethereum compatibility. GMX rewards users for holding, staking, providing liquidity, and Trading on the platform. GMX supports various Assets, such as spot, perpetual, and synthetic markets, and lets users create their own markets. GMX has a governance system that lets the community decide on the platform’s future. GMX also Shares Information about its team, roadmap, and token sale. GMX invites readers to join its community and launch. GMX’s (GMX) open Interest is $12.91 Million. As per Coinglass, another crypto analysis website, it fell by 0.57% in the previous session. The long versus short ratio for 24 hours is 0.8685. The total number of short positions added in the last 24 hours is $3.70 K against longs of $1.27 K. GMX crypto rose by 0.64% in Market value and rose by 48.10% in Trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. GMX’s Market value is $304,858,071 and its Trading volume is $16,211,492. There are currently 9,002,772 GMX in circulation. Technical Analysis Of GMX Crypto in the 1-Day Timeframe The GMX crypto Price has been plummeting for the last six months by 60.09%, losing more than half of its value and creating lower highs and lows. The GMX crypto Price is under a lot of selling pressure and declining every day. It is following a downward trendline that is resisting the Price and indicating bearishness. The Price went below the 50.00% Fibo level on May 8th, 2023, and continued to fall. The bears are in control and the Price is not able to bounce back. The GMX crypto Price might keep falling and reach or break the support levels of $31 and $28 if it does not maintain the current level and drops more. On the other hand, if the Price holds at the CMP level and breaks above the trendline, then it might reach the nearest target resistance levels of $38 and $42. Source: GMX/USD.1D.KRAKEN by TradingView The GMX crypto Price is under the 20 and 50-day exponential moving averages, which are resisting the GMX crypto Price. The MACD line, at 3.09, and the signal line, at 3.39, are both below the zero line. They have crossed and are close to each other, which indicates the Price is not changing much as shown in the MACD oscillator. The current value of the relative strength index (RSI) is 36.98 points, and the 14-day simple moving average (SMA) is below the middle line at 31.85 points. These indicators together suggest that the Market has neutral to bearish sentiments. Conclusion GMX crypto Price prediction indicates the neutral to bearish sentiments and perspectives of investors and traders regarding the crypto in the daily time frame. GMX Price action highlights a consolidation to a negative outlook at the time of publishing. Moreover, the most sought and reliable technical oscillators like RSI, EMA, and MACD suggest the continuation of neutrality over the daily time frame chart regarding the Price. Technical Levels: Support levels: The nearest support levels are $31 and $28. Resistance levels: The nearest resistance levels are $38 and $42. Disclaimer In this article, the views and Opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the Investment, financial, or any other advice. Trading or investing in Cryptocurrency assets comes with a risk of financial loss.

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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. 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. 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. 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.  Presently, prices are trading near its yearly low and buyers are trying to defend the $30.00 support level.  GMX price 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%.  Will GMX Price Recover in September?  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.  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.  The technical analysis suggests that GMX price is in a  bearish grip and the possibility of sharp recovery remains low. GMX Cryptocurrency Price fell for 5 Consecutive Weeks 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.  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  at any time. Conclusion 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.  The analysis suggests that GMX Crypto is in a downtrend and the possibility of regaining $40 in September remains low.   Technical levels Resistance levels: $40.00 and $48.00 Support levels: $30.00 and $28.00