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GMX / TetherUS PERPETUAL CONTRACT

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GMXUSDT.P trade ideas

GMX (GMX.USDT) GMX price today is $56 with a 24 hour trading volume of 30 million dollar. GMX price is up 4% in the last 24 hours and 380% growth in only six month but what is GMX? Its a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades GMX on Arbitrum has seen meaningful growth in both daily users and transactions. this is in part due to the recent GMX token listing on Binance, the growth of Arbitrum, and its recent upgrade with Arbitrum Nitro. If you check candle shadows you see that GMX can be extremely volatile so always be sure that you know your targets and using stop loss RSI could give a good signal on gmx and If you manged to buy at 30$ zone its time to take profit and if you trade in short time or you do scalp, 59$ is very important level
Long
by moonypto
4
Brief Analysis ——GMXAfter the FUD of SEC, as representatives of Optimistic-Rollup, OP and ARB rebounded stronger than many other tokens. In the second half of the year, ETH will usher in an important upgrade, Dencun, which will reduce the transaction fee of L2, which is beneficial to OP and ARB. And it is likely that other L2-tokens will appear in the second half of the year, making Layer 2 a new focus. Today we bring the brief analysis of OP, ARB and GMX. GMX is the largest DEX on Arbitrum. GLP mechanism has been imitated by many protocols. An ecosystem around GLP has been derived. In the context of CEX being sued by the SEC, GMX, which has both DEX and L2 stories, has attracted more traders' attention. After the FUD of SEC, GMX quickly repaired the loss. Price rose with callback. Under such a process, the bears gradually increases (shown by the red arrow). In the near term, the bears is on the offensive again after the pump. The strength of bulls and bears is close, more like in the process of fluctuation. Conclusion: Mostly fluctuation. The strength of the bears has increased and the upward slope has decreased. So we think GMX will remain fluctuating. We set resistance level at 64 and support level at 51. If you have any ideas, welcome to communicate with us:) Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
GMX high trader grade on token MetricsGMX presents a bullish opportunity with positive indications from the Token Metrics Trader Grade ratings and chart analysis. The price action on GMX is forming an ascending triangle pattern, suggesting a higher likelihood of a breakout to the upside. Based on this pattern, the measured move indicates a potential gain of 42%. Additionally, there is a noticeable gap in the Volume-Weighted Price (VRP) all the way up to the measured move level, indicating potential momentum for further upward movement. When considering the technical indicators, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the possibility of a retracement towards the lower boundary of the triangle. This could be considered a riskier entry point but offers greater potential rewards. Alternatively, a more conservative approach would be to wait for the price to break above the upper boundary of the triangle and retest it as support. Setting alerts on both the upper and lower trendlines would be prudent. Monitoring smaller timeframes like the 5-minute chart can provide additional insights for determining an entry point. Overall, GMX appears to have a bullish outlook with multiple factors aligning in favor of a potential upward move. As with any trading decision, it's important to conduct thorough analysis and consider personal risk tolerance before entering a trade.
Long
by Fermented_Crypto
#GMX/USDT 8h (Binance Futures) Descending channel breakoutGMX just regained 50MA support and seems to be ready for a rally towards 200MA resistance, probably after a last dip. ⚡️⚡️ #GMX/USDT ⚡️⚡️ Exchanges: Binance Futures Signal Type: Regular (Long) Leverage: Isolated (3.0X) Amount: 6.4% Current Price: 49.74 Entry Targets: 1) 47.36 Take-Profit Targets: 1) 58.39 Stop Targets: 1) 39.99 Published By: @Zblaba TSX:GMX #GMXUSDT #Gambit #DEx Risk/Reward= 1:1.5 Expected Profit= +69.9% Possible Loss= -46.7% Estimated Gaintime= 2-3 weeks gmx.io
Long
by TradingOn
GMX: Channel DownTrade setup : Price appears on the verge of bullish breakout from Channel Down pattern, which could be a beginning of a bullish trend reversal. We wait for confirmation – price needs to break and stay above $53 resistance zone. If it does, price could revisit $60 next. This is a higher risk trade setup since the overall trend is down. We highlighted GMX in Dec 2022 as our “Coin Pick” fundamental research as a big beneficiary of FTX fallout. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $40, then $26. The nearest Resistance Zone is $53 (previous support), then $60.
Long
by altFINS