GMX Token, Arbitrum Favorite Get Listed On Binance, What Next?

  • The GMX’s price is showing bullish strength, with price increasing on all timeframes. However there are no signs of a retracement. 
  • GMX can be found on the Binance innovation-trading interface as one of the top arbitrum favorites. 
  • The price of GMX is above support because price trends in the daily timeframe are creating new all-time highs.  

GMX token, GMX (GMX), continues to be bullish. The price trend on Arbitrum has been increasing week by week. GMX token was also listed on Binance innovation center. Despite the fact that GMX token was launched in a bear market, the price has had a positive start. The market continues to trend upwards and remains bullish despite uncertainty. With the market currently looking promising, and altcoins providing more relief bounces, it is possible that the price for GMX token could do extremely well. Data from Binance

GMX Token, GMX Price Analysis on the Weekly Chart

This month brought more relief to most crypto projects. Altcoins like BTC, ETH and even XRP continue to demonstrate strength after weeks with a downtrend. 

Despite being rejected at the $60 mark, the price of GMX continued to be bullish. The price attempted to trend higher and created a new record high.

The price rejected $60 and quickly bounced back to its support level of $37, rising with tremendous strength up to $50. With the bullish structure that GMX is currently in, it’s only a matter time until the price retests the all-time peak.

The weekly price of GMX was bullish before a new week. However, the price opened with a bullish sentiment. It is a positive for the price.

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

Source: GMXUSDT on| Source: GMXUSDT On

The crypto market cap price is bullish on a daily basis, with support at $850 Billion ($850B). This has helped many altcoins including GMX. Despite losing its uptrend line the price continues to display great bullish strength and aims to regain this area. 

The current price of GMX stands at $49.8. This is because it trades higher than the 8- and 20 day Exponential Moving Averages, (EMA), following a flip that turned this support into GMX price. As support, the 8 and 20-day EMA values are at 40.

Daily resistance for the price of GMX – $60.

Daily support for the price of GMX – $37.

Featured Image from zipmex. Charts From Tradingview

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