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The GMX/USD price action took a rebound off near $40 support. Subsequently, after that, price action has been moving upwards. And now it’s like price action may soon break the $56 mark.
GMX Forecast Statistics Data:
GMX current price: $53.75
GMX market cap: $433.99 million
GMX circulating supply: 7.990 million
GMX total supply: 8.7 million
GMX Coinmarketcap ranking: #74
Main Price Levels:
Top: $53.75, $56.00, $57.50
Bottom: $51.00, $50.00, $48.00
GMX Price Prediction Today, December 2, 2022: GMX/USD Is Pressing Towards Higher Resistance
Price action on the GMX/USD market keeps moving upwards, as the upper limit of the Bollinger band continues to stretch. Furthermore, the bulls were able to break the $50 price level in this ongoing session. Meanwhile, technical indicators continue to stay positive about price breaking up higher resistance. The Stochastic RSI indicator lines have risen Above the 70 mark, and this indicates that the current market movement is gaining more strength. As price activities remain above the middle limit of the used Bollinger band indicator, price movements seem poised to move further higher.
GMX Price Prediction Today, December 2, 2022: GMX/USD Reveals that Selling Activities Is Ongoing
As price action in the GMX/USD market keeps marching upward, it appears that the market bears have started clawing out profits. Even the Stochastic RSI indicator curves have taken a downward bearing portraying the effect of selling pressure in this market. Although, the overall market signs still indicate that price may move further upward. This can be seen as price action remains significantly above the middle limit of the Bollinger band. Also, the lines of the RSI are still above the 70 mark. Consequently, it is better to predict that the price may rise above $56, and then make plans to utilize the eventual occurrence of such.
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