GMX
TradetoProspa -GMX short entryHi Traders,
#GMX #GML #Arbitary #crypto
I explain why this is a good level to enter a short.
All the best,
S.SAri
GMX prediction for the end of the yearThis week we have the CPI report and the FED meeting. I expect the stock market to go down and cypto to fallow it.
My price target for GMX for the end of the year are the following:
GMX/USDT short
Entry Range: $55 - 60
Price Target 1: $51
Price Target 2: $45
Price Target 3: $38
Stop Loss: $69
GMX continuationVery little chart history but strong fundamentals and a retest of some key support complete with bounce.
Looking for a retest of ATH over the next few weeks.
A nice reaction to the support outlined
Exchange Tokens: CEX vs DEX📈This 1-year chart compares tokens from centralized and decentralized exchanges (in the latter considering those that allow derivatives/futures trading, not just swaps).
BTC was placed as a benchmark.
🥇The GMX token appreciated the most, especially after distrust of the ability of centralized exchanges to honor customer withdrawals.
🥈In second place is the Bitget token.
🥉And in third place is the Gains Network token.
👎The negative highlight goes to Binance's BNB.
GMX - Bullish TriggerResistance in red zone. Support in green. Right now we're crabbing between zones.
- If it closes 4h candles above resistance, it's poised to run to new ATHs.
- If it closes 4h candles below support, it probably drops to new local lows.
GMX Uptrend Channel**I bought GMX**
GMX is inside a bull channel, currently at the bottom of the channel, which gives us a short stop entry opportunity.
Entry: 51.53
Starting target: 63.30 (22.8%)
Stop: 48.68 (5.52%)
Volume: 2%
GMXUSDT Inverse Head and Shoulders target $86GMX recently broke out of an Inverse Head and Shoulders, a pattern that technically starts bullish reversals. Based on the RSI, one last pull back to the 1D MA50 isn't out of the question but it is highly probable to see GMXUSDT at $86 (2.0 Fibonacci) by the end of the year.
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GMX: Sideways ChannelTrade setup : Trading in a Sideways Channel ($30-$60). Swing trader: Enter near support at $30 and Exit near resistance of $60. Trend traders: Wait for a breakout above $60 to signal Uptrend resumption. Our own fundamental research recently highlighted GMX as a big beneficiary of FTX fallout.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $30. The nearest Resistance Zone is $50, which it broke, then $60.
GMX.Usdt (Y22.P4.Video1).Bullish move...what nextHI Traders,
In this video, I show my macro perspective and work through what are strong levels of support and resistance.
Don't miss this if your interested in going long to take profit.
All the best,
S.SAri
GMX heading lower Cup and Handle formation Cup and Handle formed on Daily.
Broken below Brim level $39.11
Target $21.44
GMXLooking at GMX, it has been in an upward trend for a few months now a good coin with potential. With recent world events i am looking for a pullback if it ends up making this new lower high. target of close to 0.618 retracement.
Derivatives, Synthetics, FOREX...Next Big Opportunity?For the next bull market cycle, I believe the derivatives sector, synthetic assets, equities, commodities and FOREX can provide an above-average exponential gain.
That's because the blockchain and cryptocurrency market tends to swallow the traditional market (I didn't say that... it was a trader with 30 years of experience who abandoned the traditional market).
In this comparison, I put some of the projects that I consider to have upside potential, after listening to some analysts and also from my own experience.
I also put on the chart the price of BTC and ETH for benchmark.
Projects and tokens:
Synthetix (SNX) (via Optimism or Ethereum)
GMX (GMX) (via Arbitrum or Avalanche)
Gains Network (GNS) (via Polygon)
dYdX (DYDX) (via Etherem)
Mango Markets (MNGO) (via Solana)
Perpetual Protocol (PERP) (via Optimism or Ethereum)
Deri Protocol (DERI) (via BSC or Arbitrum)
