Market Overview for GMX on 2025-08-25

• GMXUSDT tested key support at $15.00 before rebounding, with volume surging during the bounce.
• A bearish breakdown attempt from $15.60 was rejected, forming a long-legged doji at $15.47.
• RSI signaled overbought conditions mid-day, but price failed to hold gains above $15.50.
• Bollinger Bands expanded during the late-night sell-off, with price closing near the 20-period lower band.
• On-chain volume spiked to over 11k during the 19:45–20:00 ET range, coinciding with a large selloff.

Market Overview for GMX

GMXUSDT opened at $15.35 on 2025-08-24 at 12:00 ET, hit a high of $15.84, a low of $15.04, and closed at $15.17 at 12:00 ET on 2025-08-25. Total volume for the 24-hour period was approximately 127,672, while notional turnover stood at around $1,942,206. The market displayed a volatile 24-hour range, with a bearish bias emerging after midday.

Structure & Formations

The 15-minute chart displayed a strong rejection of $15.60 as a key resistance level, with a bearish breakdown attempt failing on the formation of a long-legged doji at $15.47. Price found temporary support at the $15.04–$15.07 level, suggesting a possible short-term floor. A key bullish engulfing pattern was visible on the rebound from $15.04–$15.15 during the early morning hours.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart converged near the $15.30–$15.35 range, creating a potential dynamic resistance zone. Price spent most of the session below the 50-period MA, suggesting bearish momentum. On the daily chart, the 50/100/200 SMA lines are closely aligned above current levels, indicating a potential medium-term bearish trend if this resistance remains intact.

MACD & RSI

The MACD line crossed below the signal line late morning, confirming bearish momentum as price declined through $15.40. RSI peaked at overbought levels during the midday high, but failed to hold the gains, suggesting lack of conviction in the rally. RSI closed below 50, reinforcing the bearish tilt.

Bollinger Bands

Bollinger Bands expanded significantly during the late-night selloff, with price closing near the 20-period lower band at $15.17. This suggests a period of high volatility and potential exhaustion in the short-term bearish move. A retest of the lower band could offer a short-term trading opportunity, especially if volume confirms strength.

Volume & Turnover

Volume surged to over 11,000 units during the 19:45–20:00 ET period, coinciding with a sharp sell-off from $15.79 to $15.47. This was one of the highest volume spikes of the session, indicating potential liquidation pressure. However, volume declined during the morning rebound, suggesting limited follow-through buying. The divergence between price and volume during the morning rebound raised concerns about the sustainability of the bullish move.

Fibonacci Retracements

Fibonacci levels drawn from the $15.04–$15.84 swing show the 61.8% retrace at $15.38 and the 38.2% retrace at $15.56. Price tested these levels during the day, with the 38.2% level acting as resistance and the 61.8% level as support. A break below $15.04 could open the door to a test of the $14.94–$14.92 support zone, while a rebound above $15.56 could re-ignite bullish momentum.

GMX may consolidate near current levels in the short term before attempting a direction. Investors should watch for a break of $15.04 or a retest of $15.56, as either could signal a new phase. As always, volatility remains high, and sudden moves are possible.