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GMX (GMX) Price Prediction 2024, 2025, 2026, 2027, 2028

Are you curious about the future of GMX? Our technical analysis brings you the latest GMX price prediction for 2024 and beyond. We explore market trends and analyze sentiment to help you make informed decisions about your cryptocurrency investments.
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Current GMX Price
$30.60 -6.54656% (1D)
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GMX (GMX) Technical Analysis

Valdrin Tahiri

Valdrin Tahiri

Expert in price predictions

18 June 2024

GMX price prediction

Year Min Price Av Price Max Price
GMX traders use a wide range of trading signals and technical indicators to predict a price's trajectory. While not all methods are necessary to accurately forecast the direction of the market, some key indicators do hold more weight. Identifying GMX support and resistance levels gives traders an insight into the market's supply and demand while helping to determine reversals in trends.

In addition, chart patterns are also widely used by traders to form trend lines which help in predicting the next candlestick move.

Various indicators such as the RSI, Moving Averages and the MACD can be used to determine the direction of the long-term trend and attempt to predict the future price movement.
The price action on the neutral side, the price fell below the $29.56 horizontal resistance area after previously moving above it. Such deviations are considered neutral signs. Despite this dive, the GMX price remains - %36.36 negative since the beginning of the year.

RSI

The RSI offers additional insight into the market’s momentum by measuring the size of GMX price moves to determine whether its overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and to decide whether to accumulate or sell an asset. Readings above 50 and an upward trend indicate that bulls still have an advantage, whereas readings below 50 suggest the opposite.

According to the RSI, In the 1 Week time frame, GMX is currently trending bearish with the actual RSI reading at 47.54. The 50 line could provide resistance if the indicator returns to it.

Moving averages

Moving averages are an important analytical tool that provides traders with a bigger picture of what is happening in the charts by calculating the GMX average closing price over a set period of time. The relationship between short- and long-term moving averages is crucial in determining the trend’s direction. When the short-term MA moves above the long-term one, it is a sign that the trend is gradually turning bullish.

In the weekly timeframe, GMX is in a neutral trend since the 50-x MA has crossed above the 200-x MA, and the price is trading below both.

Alternatively, the trend is neutral if the 50-day MA has crossed above the 200-day one, but the price is trading below them (and vice-versa).

MACD

Finally, the MACD uses a Simple Moving Average (SMA) and an Exponential Moving Average (EMA) to more accurately predict the trend. In similar fashion to simple MAs, the relationship between these two is helpful in determining the trend’s direction.

For all these indicators, the weekly time frame is used to determine the long-term trend, the daily time frame is used for the intermediate trend, while the six-hour one is used for the short-term trend.

According to the MACD, in the 1-Week timeframe, GMX is currently trending Bearish Momentum since the MACD signal line moved below 50 periods ago, and the histogram has been negative for 50 periods.

Current GMX Price

GMX currently sits at a price of $30.60 (GMX/USD) with a live market capitalization of 291.5M. The 24-hour trading volume is 26.8M USD which is a - %6.54656 negative. With a circulating supply of 9.5M, GMX's price movement is currently negative.

GMX Fundamental Analysis

Fundamental analysis aims to assess the inherent value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are employed to analyze and predict potential developments in the future price of that asset.

In the case of GMX, the most straightforward way to perform fundamental analysis is to look at supply and demand dynamics. Additionally, it is possible to look at the market capitalization amount (291.5M) and the circulating supply (9.5M) to arrive at reasonable price assumptions for the future. On the demand side, it is possible to look at on-chain data relating to the number of active and new addresses and transaction count.

What drives the price of GMX?

There are a number of variables in the cryptocurrency market that can drive the price of GMX upwards or downwards. The major force behind GMX’s asset value is the market’s supply and demand. Whether the demand for more GMX increases or decreases depends greatly on growing adoption.

Furthermore, significant events such as protocol updates or hard forks may also play a significant role in GMX’s price.

Another prime factor to consider is whale activity. Large holders of GMX can greatly impact the price as one large sell order can drop the price significantly. In addition, never underestimate the power of large institutional adoption and political regulations on GMX’s value.

Summary

It’s important to note some price predictions may appear contradictory. There is no clear-cut method for determining the future value of any cryptocurrency. This is because many factors are involved in price prediction. It’s not uncommon for one announcement to greatly change the trajectory of a coin’s price at any given time. The entire market as a whole can affect one coin’s movement as well as any updates on the project’s technology. Always do your own research before investing in any cryptocurrency.

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The services provided herein, including without limitations information, data, and predictions provided on this page, are intended for informational purposes only. The services do not constitute financial, investment, or any other professional advice and do not purport to be. The users are encouraged to consult with a licensed financial advisor before making any financial decisions. The company is not liable for any financial decisions made based on the use of these services.

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