GMX Market Overview

• GMXUSDT declined to 16.80 before rebounding to close near 17.05 on 24-hour volume of 316,075.77.
• A key 15-minute bullish engulfing pattern emerged at 17.02-17.13, signaling potential short-term reversal.
• MACD turned negative midday, but RSI remains neutral, hinting at potential consolidation.
• Bollinger Bands widened during the 03:00–04:00 ET surge, reflecting rising volatility and risk.
• Volume spiked at 03:00 ET during the 17.68 high, yet turnover failed to confirm, indicating uneven buying pressure.

GMXUSDT opened at 17.12 on 2025-08-12 at 12:00 ET, reached a high of 17.68, fell to a low of 16.80, and closed at 17.05 at 12:00 ET on 2025-08-13. Total 24-hour volume was 316,075.77 GMX, with a notional turnover of approximately $5.39 million.

Structure & Formations

Price carved a distinct V-shaped bounce from a 15-minute low at 16.80 (17:45 ET 2025-08-12), rebounding through key resistance levels of 17.00 and 17.10. A bullish engulfing candle at 17:00–17:15 ET confirmed the reversal. On the daily scale, 17.00 and 17.30 appear as potential short-term support and resistance, respectively. A doji at 05:15 ET (17.59) signaled indecision, followed by a bearish decline into 17.40 and 17.30.

Moving Averages

The 20-period and 50-period 15-minute SMAs crossed bearish at midday, but price recovered above them in the late night session. On the daily chart, the 50-period SMA rests near 17.20, while the 200-period sits at 16.85—suggesting potential support should the downtrend resume. Price closed above the 50-period on a 15-min chart, indicating short-term buyers remain active.

MACD & RSI

MACD turned bearish during the midday dip but re-entered positive territory after a strong rebound at 03:00 ET. RSI remains in neutral ground at ~55, showing no immediate overbought or oversold conditions. However, a bearish divergence appeared during the 17:00–19:00 ET decline, which may signal caution for near-term bulls.

Bollinger Bands

The 15-minute Bollinger Bands widened during the 03:00–04:00 ET spike to 17.68, with the price closing near the upper band. This suggests a period of high volatility and potential reversal. Price has since consolidated within the bands, but the recent expansion could indicate increased trading interest.

Volume & Turnover

Volume spiked at 03:00 ET during the 17.68 high, with 44,442.83 GMX traded—over double the average 15-minute volume. However, notional turnover failed to confirm the bullish move, suggesting uneven buying strength. A further divergence occurred at 05:15 ET, with low volume relative to the price drop.

Fibonacci Retracements

On the 15-minute chart, the 17.68 high to 16.80 low shows a 61.8% retracement at 17.35 and a 38.2% at 17.12—both of which coincided with key support and reversal candle formations. Daily Fibonacci levels suggest 16.90 and 17.40 as key watchpoints for the next 24 hours.

GMX may consolidate near 17.05 in the short term, with a potential test of 17.30 ahead. Traders should remain cautious as volatility remains high, and a reversal below 17.00 could trigger further declines.