the MACD exhibits a bullish crossThe GMX crypto has performed well in the last month, increasing by 49.30% and rising by 14.38% in the last week. GMX (BINANCE: GMX) has a negative year-to-date return of -32.17% and a negative three-month return of -35.72%.
At press time, the GMX price has traded at $37.30, its market cap stands at $355 Million, and its trading volume is $36.851 Million. There are 9.518 million in circulation.
An analyst, hansolar, Tweeted with the bullish sentiment on the X platform that In GMX (GMX) a parabolic breakout move could burst out on the daily chart.
The Analyst happens to be optimistic and compared the parabolic movement with an peak of the banana in a creative manner. With that symbolization, the analyst further stated that his analysis on GMX displays that the price could reach the peak of banana by the end of the june 2024.
Similarly, based on the optimistic analyst tweet, the GMX asset daily chart shows that it has been spiking from support and remains above the 20-day, and 50-day EMAs. This has portrayed bullish strength in the crypto asset, as it has been riding over upward trendline.
Likewise, the MACD exhibits a bullish cross, with a rising histogram in GMX at 0.7194, and the RSI flashed at 66.14. Thus, it portrayed that the GMX crypto looks not like a losing steam yet and could continue to go abruptly higher in future sessions.
Therefore, if the breakout rallies parabolicly it could gain a 60% growth approximately. Likewise, the next goal for the GMX price could be to reach the above levels, such as $50.0 and $60.0.
On the contrary, if the price plunges, in this scenario, if the GMX crypto price fails to stay above the $35.0 level, it could also decline further for $30.0, and 25.0 support levels.
