GMX Gained 29.83% in Last Month and is Predicted to Drop to $45.81 By Dec 08, 2022

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • GMX is down -3.38% today against the US Dollar
  • GMX/BTC decreased by -3.19% today
  • GMX is currently trading 14.95% above our prediction on Dec 08, 2022
  • GMX gained 29.83% in the last month and is up 79.61% since 1 year ago
GMX price $ 52.65
GMX prediction $ 45.81 (-13.00%)
Sentiment Bullish
Fear & Greed index 27 (Fear)
Key support levels $ 51.43, $ 47.27, $ 44.74
Key resistance levels $ 58.13, $ 60.67, $ 64.83

GMX price is expected to drop by -13.00% in the next 5 days according to our GMX price prediction

is trading at $ 52.65 after losing -3.38% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.53% in the same time period. GMX performed poorly against BTC today and recorded a -3.19% loss against the world’s largest cryptocurrency.

According to our GMX price prediction, GMX is expected to reach a price of $ 45.81 by Dec 08, 2022. This would represent a -13.00% price decrease for GMX in the next 5 days.

GMX Price Prediction Chart

Buy/Sell GMX

What has been going on with GMX in the last 30 days

GMX has been displaying a positive trend recently, as the coin gained 29.83% in the last 30-days. The medium-term trend for GMX has been bearish, with GMX dropping by -5.85% in the last 3 months. The long-term picture for GMX has been positive, as GMX is currently displaying a 79.61% 1-year price change. On this day last year, GMX was trading at $ 29.32.

GMX reached its all-time high price on Jan 16, 2022, when the price of GMX peaked at $ 62.10. The current GMX cycle high is $ 59.44, while the cycle low is at $ 11.61. GMX has been displaying high volatility recently – the 1-month volatility of the coin is at 10.96. GMX recorded 16 green days in the last 30 days.

GMX technical analysis for today – Dec 03, 2022

The sentiment in the GMX markets is currently Bullish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 51.43, $ 47.27 and $ 44.74, while $ 58.13, $ 60.67 and $ 64.83 are the key resistance levels.

Bullish sentiment for GMX

23 indicators are currently signaling a bullish prediction for GMX, while 6 indicators are showing a bearish forecast. With 79% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for GMX.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 27 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

GMX moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how GMX is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential
MA3 $ 51.80 (BUY) $ 55.59 (SELL)
MA5 $ 47.54 (BUY) $ 51.80 (BUY)
MA10 $ 45.97 (BUY) $ 47.67 (BUY)
MA21 $ 43.10 (BUY) $ 44.39 (BUY) $ 40.52 (BUY) $ 40.35 (BUY)
MA50 $ 40.17 (BUY) $ 41.89 (BUY) $ 33.46 (BUY) $ 35.37 (BUY)
MA100 $ 41.98 (BUY) $ 40.15 (BUY)
MA200 $ 33.95 (BUY) $ 37.14 (BUY)
Period Value Action
RSI (14) 70.18 SELL
Stoch RSI (14) 85.34 SELL
Stochastic Fast (14) 95.42 SELL
Commodity Channel Index (20) 66.67 NEUTRAL
Average Directional Index (14) 25.90 BUY
Awesome Oscillator (5, 34) 5.15 NEUTRAL
Momentum (10) 14.98 NEUTRAL
MACD (12, 26) 1.17 NEUTRAL
Williams Percent Range (14) -4.58 SELL
Ultimate Oscillator (7, 14, 28) 55.67 NEUTRAL
VWMA (10) 47.63 BUY
Hull Moving Average (9) 49.88 BUY
Ichimoku Cloud B/L (9, 26, 52, 26) 40.98 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for GMX is at 70.18, suggesting that GMX is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of GMX over the last 50 days. Currently, GMX is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the GMX closing price for the last 200 days. GMX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this GMX prediction

After considering the above factors, we can conclude that the current forecast for GMX price prediction is Bullish. GMX would have to decrease by -13.00% to hit our $ 45.81 target within the next five days. Moving forward, it will be important to monitor the GMX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term GMX price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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