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.
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