GMX USDT GMX Technical Analysis

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By Frans van Elst

GMX logo 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 exchange built on the Ethereum blockchain that offers fast and secure trading of various digital assets. It utilizes a novel liquidity pool system to provide users with better pricing and lower fees compared to traditional exchanges. Additionally, GMX features an innovative governance mechanism that allows holders of its native token (GMX) to participate in decision-making processes and shape the future of the platform.

GMX Price Overview:

As of June 29, 2024, GMX is trading at approximately 28.11 USDT. Let’s dive into the detailed price action for GMX-USDT:

GMX (GMXUSDT) faces challenges, trading at 28.11 USDT, as technical analysis signals weakened support and cautionary indicators.

Metric Value
Open (O) 27.38
High (H) 28.31
Low (L) 27.16
Close (C) 28.11
Volume (C) 54,584.20
  • Open (O): The opening price for today’s trading session was approximately 27.38 USDT.
  • High (H): GMX reached a daily high of around 28.31 USDT.
  • Low (L): The daily low for GMX-USDT was approximately 27.16 USDT.
  • Close (C): At the time of analysis, GMX is trading near its daily close of 28.11 USDT.
Metric Value
1D Change (%) 2.67%
3D Change (%) -0.35%
7D Change (%) 0.79%
30D Change (%) -23.80%
90D Change (%) -38.53%
YTD Change (%) -48.97%

Over the past three days, GMXUSDT has decreased by approximately -0.35%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.79%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GMXUSDT maintaining a downward trend of approximately -23.80%, despite intermittent fluctuations. Examining the last 90 days, GMXUSDT has witnessed substantial drop of approximately -38.53%, reflecting strong long-term confidence. Year-to-date, GMXUSDT has steadily depreciated by around -48.97%, 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 0.51903.
  • Momentum score is -0.29743.

GMX USDT Technical Analysis

GMX Trading Volume:

The trading volume for GMX (GMX) over the past 24 hours has been insignificant, with approximately 54,584.20 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 below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): GMX is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for GMX-USDT is currently in the low zone, around 43.73263. This suggests that GMX is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

GMX (GMX-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.

GMX (GMXUSDT) faces challenges, trading at 28.11 USDT, as technical analysis signals weakened support and cautionary indicators.

Take the next step in your exploration by delving into our detailed insights on GMX BTC GMX Technical Analysis; it’s a natural follow-up if you enjoyed this post.

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.

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