- The trading volume of the crypto has advanced by +5.13% in the last 24 hours.
- GMX price has advanced by +2.68% in the last 24 hours trading with a CMP of $31.46.
The market cap of the GMX coin has advanced by 2.47% in the last 24 hours. The current volume/Market cap ratio of the crypto is 3.22% and a circulating supply of 9.01M GMX with an infinite supply. The fully diluted market cap of the crypto is $297.07 Million.
This cryptocurrency’s derivative volume has declined by -9.23% in the last 24 hours. It followed an advance of 0.14% in the open interest with a long/short ratio of 1.0833. This indicates that the crypto has a higher short liquidation of $10.68K.
The GMX coin has a total locked value of $439.07 Million. The market cap dominance of the crypto is 0.026% and the market cap rank of the crypto is #108. Its all-time high price was recorded on April 18, 2023, at a level of $91.07. The all-time low price for the coin is $11.53, which was recorded on June 15, 2022.
GMX Price Technical Analysis
The GMX crypto price is trading inside a falling wedge pattern, declining from higher levels and making lower lows. It is making a bearish market structure and the price is expected to decline further unless it breaks above the channel pattern.
As the price has been consistently declining from higher levels, the Exponential Moving Average for the crypto has led to the death cross in the charts. It shows the sellers’ bias in the market.
The RSI of the crypto has declined below the oversold zone. It shows a very strong downtrend and the absence of buyers in the market. It also indicates that the price of the crypto can decline to further lower levels.
GMX Volume Analysis
The crypto’s volume has not shown any significant variation as its price has been gradually declining to lower levels without any rapid movement in price.
Conclusion
The GMX token is trading with a negative market structure, following a lower low structure and trading inside a falling wedge pattern. This cryptocurrency’s price is expected to decline further as its EMA is trading in a death cross and the RSI has declined below the oversold zone. The cryptocurrency’s volume also does not show any significant activity.
Therefore, this token’s price is expected to decline further to the lower levels in the future.
Technical Levels
- Support Level: $25.870 and $20.500
- Resistance Level: $59.150 and $89.60
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.