Trade setup: Following a breakout from Sideways Channel ($30-$60) with robust volume, price resumed its Uptrend. Price broke above $75 and is now retesting that level. If it holds, price has upside potential up to $90. Our own fundamental research recently highlighted GMX as a big beneficiary of FTX fallout.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $60 (previous resistance), then $30. The nearest Resistance Zone is $75, which it broke, then $90.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $60 (previous resistance), then $30. The nearest Resistance Zone is $75, which it broke, then $90.