MACD exhibits a bullish crossAt press time, the GMX crypto has traded at $44.70 with an intraday surge of 4.71%. An analyst, Daan Crypto, tweeted with the bullish sentiment on the X platform that in GMX (GMX), the price seems to have surged in turbo mode as price alreday up 2x from the bottom and trading above 200-day EMA on the daily chart.
The analyst is optimistic and states that $60.0 could be the next target in the upsurge, for that to go forward, the price need to hold on above $41.0 key important support.
Similarly, based on the optimistic analyst tweet post on X, the GMX daily chart shows that it has been increasing from support. It portrayed bullish strength in the GMX crypto asset, which has been riding over the seamless upward trendline.
What Indicators Indicates In GMX!
Likewise, the MACD exhibits a bullish cross, with a rising histogram in GMX at 0.92117 and the RSI flashed at 72.81. Thus, it hints that the GMX crypto had a bullish potential but relative strength highlights that it had reached overbought conditions and could cap the potential as well, investors should stay cautious.
Over the latest market conditions, if the breakout keeps on surging, it could gain approximately 40% growth. Likewise, the next target for the GMX price could be to reach the above levels, such as $51.0 and $61.0.
On the contrary, if the price deteriorates, in this scenario, if the GMX crypto price fails to stay above the $35.50 level, it could also decline further to $30.50 and 25.50 support levels.
