GMX/USD Coin (GMXUSDC) Market Overview

• GMX/USD Coin surged 6.7% over 24 hours, closing near a multi-day high.
• Momentum built through the early morning with a strong move above key resistance.
• Volatility expanded in the last 6 hours, with volume surging to 2004.89x the 15-min average.
• RSI and MACD show bullish divergence, suggesting continuation of the breakout.
• Price appears to be forming a bullish continuation pattern following a 13.94–14.25 base.

GMX/USD Coin (GMXUSDC) opened at $13.94 on 2025-09-04 at 12:00 ET and closed at $14.36 at the same time on 2025-09-05. The 24-hour high was $14.49 and the low was $13.86. Total traded volume reached 2004.89 units, while notional turnover amounted to $28,550.60. The price trend shows a strong upward bias, with a breakout above the 14.25–14.31 consolidation range.

Structure & Formations

Price action over the last 24 hours reveals a breakout above a key 15-minute consolidation range between $14.25 and $14.31, confirmed by a bullish candle on 2025-09-05 at 07:30. This move followed a large-volume bullish engulfing pattern at 21:30 on 2025-09-04, where the price surged from $14.17 to $14.25. A doji formed at 08:30, indicating a temporary pause in momentum, but buyers retook control shortly after.

Key resistance levels appear to be at $14.49 (recent high), $14.46 (24-hour peak), and $14.36 (current close). Notable support levels include $14.25 (recent consolidation), $14.00 (major 15-min pivot), and $13.94 (initial support and breakout trigger).

Moving Averages

On the 15-minute chart, the 20-period MA is at ~$14.26, and the 50-period MA is at ~$14.17, suggesting a strong short-term bullish trend. On the daily chart, the 50-period MA is at $14.13 and the 200-period MA at $13.96, indicating a longer-term bullish bias as well. The price is currently trading well above both, signaling strong momentum.

MACD & RSI

The MACD line crossed above the signal line at around 21:30 on 2025-09-04, confirming bullish momentum. The RSI has been in overbought territory for much of the past 10 hours, peaking near 75. However, a divergence appears in the last hour, where price made a new high but RSI failed to surpass the prior peak. This could signal a potential pullback or consolidation.

Bollinger Bands

Volatility has increased dramatically, with the Bollinger Bands expanding to a 14.31–14.49 range in the last 6 hours. Price has spent much of the day in the upper half of the bands, confirming strong bullish momentum. A retest of the lower band at $14.25 or the middle band at $14.35 could offer a clearer path forward.

Volume & Turnover

Volume spiked significantly at 18:30 on 2025-09-04 (2004.89 units) during a sharp $14.00–$13.94 move, suggesting a possible short-covering or distribution event. However, this was followed by strong buying pressure in the early hours of 2025-09-05, particularly between 03:15 and 07:30, where large-volume bids pushed price higher. Notional turnover has increased from ~$200–$300 in the morning to ~$1,200 at peak, confirming the strength of the rally.

Fibonacci Retracements

Applying Fibonacci to the 13.94–14.25 swing, the key retracement levels are:

• 23.6% = $14.08
• 38.2% = $14.12
• 50% = $14.16
• 61.8% = $14.20

On the daily chart, the key Fibonacci level for the broader $13.86–$14.49 move is 61.8% at $14.26, which has acted as a critical support/resistance. A break above $14.49 would target the next 78.6% level at $14.53.

Backtest Hypothesis

If the backtest strategy relies on breakout confirmation (e.g., a candle closing above the 14.25–14.31 range with above-average volume), today’s price action aligns well with a high-probability trade setup. The strategy could also incorporate a trailing stop just below the 14.18–14.25 support level. Given the recent RSI divergence, however, the setup should include a short-term volatility filter, such as a Bollinger Band squeeze or a 20-period MA crossover, to avoid false breakouts. The current momentum suggests that a 1%–2% target above the breakout high ($14.51–$14.55) may be achievable within the next 48 hours, but a pullback to test the 14.25 level could offer a better risk-reward profile for entry.