Daniel from Improve Press
The value of the GMX token has proven a lot power regardless of the downtrend throughout the market, with the GMX token eyeing a rally to its all-time excessive of $60. Bitcoin’s (BTC) worth has proven much less steam in comparison with current occasions, this has affected most crypto property, however this can’t be stated of GMX token. (Knowledge from Coinex)
GMX Token (GMX) Worth Evaluation On The Each day Chart
GMX token worth has proven a lot power creating a better excessive after hitting a low of $13; the worth bounced off from this area and rallied to $55.
The value of GMX rallied to a excessive of $55 however was rejected as this proved to be a resistance for GMX on the day by day chart.
GMX worth dropped to a area of $35, forming day by day assist to carry off the worth from promoting. The value of GMX has continued to carry above assist and construct momentum to interrupt above this area.
The value of GMX is presently buying and selling above its assist, with eyes set for extra highs.
Each day resistance for the worth of GMX – $55.
Each day assist for the worth of GMX – $35.
Worth Evaluation Of GMX On The 4-Hourly (4H) Chart
After falling from a excessive of $55, the worth of GMX on the four-hourly timeframe has shaped assist at $30, holding the worth of GMX from going decrease as this has change into an space of demand for GMX worth.
The value of GMX has shaped a bullish trendline performing as assist for the worth of GMX; so long as the worth of GMX respects the trendline performing as assist for its worth, we may see the worth of GMX going increased to a brand new excessive and probably reaching its all-time highs.
If the worth of GMX fails to carry this trendline and breaks beneath, we may see the worth going decrease to a area of $40, the place it has shaped assist within the four-hourly timeframe earlier than its rally.
Regardless of being rejected lately from the $55 mark, GMX worth has continued to look bullish with extra purchase quantity for this coin.
4 hourly (4H) resistance for the GMX worth – $55.
4 hourly (4H) assist for the GMX worth – $40.
Worth Evaluation Of GMX On The One-Hour (1H) Chart
The value of GMXon the 1H timeframe has continued to respect the trendline whereas creating increased highs; if the worth of GMX continues its bullish construction, we may see GMX going previous the $60 mark.
If the trendline supporting the GMX token is damaged, we may see the worth revisiting $43, simply above the 200 Exponential Shifting Common (EMA). The value of GMX is presently buying and selling above the 50 and 200 EMA, performing as assist for GMX’s worth within the 1H timeframe.
The value of $47 and $43 corresponds to the 50 and 200 EMA values on the 1H chart.
The Relative Power Index (RSI) for GMX on the 1H chart is above 60, indicating purchase order quantity for the GMX worth.
One-Hourly (1H) resistance for the GMX worth – $55.
One-Hourly (1H) assist for the GMX worth – $47, $43.
Featured Picture From Forex, Charts From TradingView.com
