In this GMX technical analysis, we will examine the current price action, trading volume, key levels and indicators for GMX-USDT. GMX is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, allowing for fast and secure transactions without the need for expensive hardware or energy-intensive mining processes. GMX also features a unique governance system, enabling holders to vote on proposals for the development and growth of the network. With its focus on sustainability, security, and community involvement, GMX aims to provide a reliable and innovative platform for users looking for an alternative to traditional cryptocurrencies.
GMX Price Overview:
As of October 02, 2023, GMX is trading at approximately 39.5 USDT. Let’s dive into the detailed price action for GMX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 42.41 |
| High (H) | 42.94 |
| Low (L) | 38.36 |
| Close (C) | 39.5 |
| Volume (C) | 138,697.67 |
- Open (O): The opening price for today’s trading session was approximately 42.41 USDT.
- High (H): GMX reached a daily high of around 42.94 USDT.
- Low (L): The daily low for GMX-USDT was approximately 38.36 USDT.
- Close (C): At the time of analysis, GMX is trading near its daily close of 39.5 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -6.88% |
| 3D Change (%) | 2.31% |
| 7D Change (%) | 13.83% |
| 30D Change (%) | 19.91% |
| 90D Change (%) | -31.12% |
| YTD Change (%) | -5.09% |
Over the past three days, GMXUSDT has increased by approximately 2.31%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 13.83%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GMXUSDT maintaining an upward trend of approximately 19.91%, despite intermittent fluctuations. Examining the last 90 days, GMXUSDT has witnessed substantial decline of approximately -31.12%, reflecting strong long-term confidence. Year-to-date, GMXUSDT has steadily declined by around -5.09%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
GMX Live Chart:
You can access a live price chart for GMX-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.54304.
- Momentum score is 0.19915.
GMX USDT Technical Analysis
GMX Trading Volume:
The trading volume for GMX (GMX) over the past 24 hours has been significant, with approximately 138,697.67 USDT traded against GMX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): GMX is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): GMX is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for GMX-USDT is currently in the neutral zone, around 50.91986. This suggests that GMX is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
GMX (GMX-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
