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GMX / TetherUS

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GMXUSDT trade ideas

GMXUSDT - Trade SetupThe initial trade suggests a long position on GMXUSDT with an entry range between 31.53 and 32.30. For risk management, set your stop loss at approximately 6% to 8% of the trade value. The risk-to-reward ratio for this trade is 1:5, making it potentially profitable. However, it's important to monitor smaller timeframes for continued higher highs, as the 1-day timeframe currently shows a bearish trend. Your target for taking profit should be around 45.
Long
by MaximumCryptoSignals
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