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GMXUSDT trade ideas

GMX/USDT in a Strong Positions for Bullish Rally? 🚀GMX Analysis💎Paradisers, let's focus on #GMXUSDT, where current market signals hint at a potential bullish turnaround from a vital support region. 💎A review of #GMX's latest trading data reveals a significant 70% retracement from its recent high. However, the steadfastness at the $43.19 support level suggests a window for an upward trajectory. 💎The journey to surpass previous peaks or achieve new milestones has been challenging, fostering a temporary bearish sentiment. Yet, the critical $43.19 threshold for TSX:GMX is on the verge of initiating a notable bullish wave upon further evaluation. 💎With a forward-thinking mindset, we've prepared an alternative plan. If #GMX declines beyond this support, we anticipate a bullish revival from the next support at $34.17. It's vital to acknowledge that slipping below this marker could signal a deeper bearish trend. 💎Keep your trading strategies adaptable and your eyes peeled for market shifts, Paradisers. Rest assured, the ParadiseTeam is closely observing these developments, ready to guide you through the evolving market landscape.
Long
by MyCryptoParadise_Simon
GMX/USDT | 1W 👀1. As time passes, only accumulation ranges change... 2. I expect to see the continuation of the correction now. It's better to buy on the dip and accumulation phases rather than when the coin is already rising. - Not financial advice, trade with caution. ✅ Stay updated on market news and developments that may influence the price of GMX. Positive or negative news can significantly impact the cryptocurrency's value. ✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. ✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for #Crypto #Investment #GMX
by Nyskohuz
GMX ANALYSIS (1D)According to the wave count of the GMX chart, we can consider a triangle or diametric scenario for this coin. We now seem to be in wave e of D. Whichever of these scenarios is going on, the red flip range is the range where we are looking for sell/short positions. We marked the targets on the picture. We also specified the invalidation level, closing a daily candle above this level will violate the analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
GMX : How to detect REVERSAL PATTERN ??GMX has been trading within a significant horizontal range since May 2023, experiencing rebounds from both the lower and upper boundaries. The recent attempt to break out and subsequent sharp decline raises the possibility of a retest of equal lows around $42. Anticipating this retest and observing liquidity dynamics could provide insights into the potential for an upward move. 🔄 Horizontal Range Trading Analysis: The extended period of trading within a horizontal range highlights a balanced market sentiment, with buyers and sellers engaged in a tug-of-war. GMX has shown resilience in bouncing off both the lower and upper boundaries, but the recent failed attempt at a breakout led to a notable decline. 📉 Failed Breakout and Retest Anticipation: The unsuccessful attempt at a local breakout followed by a sharp decline suggests a temporary imbalance in favor of sellers. Anticipating a retest of equal lows around $42 becomes plausible, considering historical price action within the range. 🔍 The Significance of Liquidity: The concept of liquidity becomes crucial in understanding potential market movements. The anticipation of a retest at $42 implies a zone where liquidity may accumulate. Observing the reaction to this level and the subsequent behavior of liquidity can offer valuable insights into the potential for a bullish reversal. 🚀 Potential Scenarios: Equal Lows Retest: A retest of equal lows around $42 would be a critical juncture. The market's reaction to this level, especially in terms of liquidity dynamics, would provide indications of buyer interest. Liquidity Accumulation: The accumulation of liquidity at the retest level could act as a catalyst for a potential upward move. Increased buying interest and a shift in the balance of supply and demand could signal a reversal. Confirmation of Reversal: Traders should await confirmation, such as a sustained move above resistance levels and the establishment of higher highs, to validate the potential for a bullish reversal. 💡 Trading Strategy: Traders considering GMX should exercise caution and await confirmation signals. Entering a position near the anticipated retest level could offer a favorable risk-reward ratio. Implementing stop-loss orders below key support levels is advisable to manage risk effectively. 🔮 Future Outlook: The technical analysis suggests that GMX is at a critical juncture, with the potential for a retest of equal lows around $42. Traders should closely monitor the price action, liquidity dynamics, and confirmation signals to navigate potential opportunities for a bullish reversal. The cryptocurrency market's dynamic nature emphasizes the importance of adaptability and risk management in trading decisions.
by AlexWhale
📊#GMX will continue to rise based on the smiley structure📈🧠Graphically we can see that a smiley face bullish structure is established. From a structural point of view, we have successfully broken through the short defense point, which means that the short structure has been destroyed, which means that we will continue to maintain the power of the bulls. If there can be another correction, it will be a good opportunity to enter the market. ✔️ Let’s see 👀 🤜If you like my analysis, please like 💖and share it💬 💕 Follow me so you don't miss out on any signals and analyze 💯
Long
by wolf_king888
GMX/USDT Keep an eye in this support, Bounce or break down ??💎 GMX has been garnering significant attention in the market recently. At present, GMX is positioned at a support level, which previously acted as resistance. Observing the current trend, GMX maintains a bullish pattern, characterized by forming higher highs and higher lows. 💎 For GMX to continue its upward trajectory, it’s crucial to witness a strong bounce from this support level. A successful rebound from here could propel GMX towards the strong resistance area, potentially setting new highs. 💎 However, there’s a critical scenario to monitor for GMX. If it fails to hold the support level and experiences a breakdown, this could signal a significant shift in market dynamics. 💎 Such a breakdown would indicate the disruption of the bullish trend, potentially steering GMX into a bearish phase. In this situation, GMX could see a downward movement, leading it to approach the key support area. This juncture would be pivotal, as a failure to hold the key support could further exacerbate the bearish trend.
by MyCryptoParadise
Long GMX/USDT D1 (R/R = 3)Long GMX Entry - from current price level (around 39). TP1 - 50 (30%) TP2 - 55-56 (50%) TP3 - 70 (20%). Technical analysis. 1/ Capitulation on 17, Aug on decent volume (low - $28) 2/ Failure of printing new lows below $28. Weakness on downward movement with no significant volume resulting in failure to print new lows below $28. That's the point where one should seek for signs of reversal. But there's still no entry point. 3/ On 20, Oct we witnessed an enormous volume but on rather small-spread green candle. As for me, that's enough to have a good long setup: - There's a trigger for entry - HLs and HHs (that's that I want to see as a long price action) - POC - as a stop-loss level (pretty tight stop) - a lot of room to grow up. No significant pressure until 50-55 level. Fundamentals. No need to present this alt. No.1 perpDEX (TVL-wise; like dYdX) which is constantly in top 5-10 projects in terms of fee generating. And it's very important to search for projects that generates positive cash-flow on a daily/weekly basis.
Long
by SaltSugar
3