GMX Token, Arbitrum Favorite Get Listed On Binance, What Next?
October 05 2022 - 04:00PM
NEWSBTC
GMX price continues to show bullish strength as price increases on
all timeframes, as there is no sign of retracement. GMX is
one of the arbitrum favorites listed on the Binance innovation
trading interface. The price of GMX holds above support as
price trends on the daily timeframe to create new all-time
highs. GMX token (GMX) has continued to look bullish as
the price trend week in week out on the Arbitrum network as GMX
token gets listed on Binance innovative center. The price of GMX
has seen a rosy start to its launch despite its emergence in the
bear market; the price continues to trend and remain bullish even
in the face of uncertainty in the market. With the current
market looking more promising ahead of more relief bounces from
altcoins, we could see the price of GMX token (GMX) doing extremely
well. (Data from Binance) Related Reading: XRP Chills About Support
And Aims Higher, Will It Breach $0.5? GMX Token (GMX) Price
Analysis On The Weekly Chart The new month has come with more
relief for most crypto projects, with altcoins, such as BTC, ETH,
and even XRP, continuing to show strength after weeks of downtrend
movement. The price of GMX has continued to show its bullish
strength despite being rejected from the $60 mark as the price
tried to trend higher, creating a new all-time high. After a
rejection from $60, the price retested its support area of $37 as
price quickly bounced off, rallying with great strength to $50.
With the current bullish structure, GMX has continued to sustain it
is just a matter of time before the price retests its all-time
high. The weekly price for GMX closed bullish ahead of a new week,
with the price opening with a more bullish sentiment. The news of
the token being listed on the Binance innovation zone is a big plus
for the price of GMX. Weekly resistance for the price of GMX – $60.
Weekly support for the price of GMX – $37. Price Analysis Of GMX On
The Daily (1D) Chart On the daily timeframe, the crypto market cap
price remains bullish, holding the support at $850 billion ($850B);
this has helped most altcoins, including the price of GMX; despite
losing its uptrend line, the price has continued to show great
bullish strength to reclaim this region. The current price of
GMX is $49.8 as the price continues to trade above 8 and 20-day
Exponential Moving Averages (EMA) after flipping this into support
for GMX price. The price at $40 corresponds to the values of 8 and
20-day EMA acting as support. Daily resistance for the price of GMX
– $60. Daily support for the price of GMX – $37. Related Reading:
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