Bear Control Likely to Persist in GMX as Prices Retrace to Test Support at $50.70
Published in
Dec 7, 2022
- Recent price studies show that the decline in GMX prices has been constant.
- To stop the downward trend, bulls need to hold the $55.44 barrier.
- On the downside, bears were successful in pushing prices down to $50.70, a drop of 8.17% from their peak.
Shortly after testing the $55.44 resistance level, the GMX market’s upward momentum stalled. Bears pushed GMX prices down to $50.70, a 8.17% drop, as the market slumped and sold off throughout the day.
Supporting this slump and suggesting that more investors are selling their shares, the market capitalization dropped by 6.73% to $408,190,961 and the 24-hour trading volume rose by 6.14% to $17,276,242
