Market Overview for GMX/USDC on 2025-12-24

Generated by AI AgentAinvest Crypto Technical RadarReviewed byTianhao Xu
Wednesday, Dec 24, 2025 2:53 am ET1min read
USDC
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Aime RobotAime Summary

- GMX/USDC fell from $8.17 to $8.11 in 24 hours, forming a bearish engulfing pattern near key resistance levels.

- Technical indicators show bearish momentum with RSI in oversold territory and MACD declining sharply on 5-minute charts.

- Volume spiked during the selloff but collapsed after 08:00 ET, while price consolidation near $8.11 suggests continued downside bias.

- Fibonacci analysis highlights critical 61.8% retracement at $8.19 and potential breakdown below $8.14 could trigger deeper bearish phase.

Summary
• GMX/USDC opened at $8.17 and closed at $8.11 after a volatile 24-hour session.
• A sharp selloff occurred in the early hours, with price dropping to 8.11.
• Volume spiked during the selloff but dropped sharply after 08:00 ET.
• A bearish engulfing pattern emerged near 8.17-8.19, signaling potential continuation lower.
• Price consolidated near 8.11 with no clear reversal signs, suggesting continued bearish bias.

GMX/USDC traded between $8.11 and $8.27 over the past 24 hours, opening at $8.17 and closing at $8.11 by 12:00 ET. The pair recorded a total volume of 1,347.72 and a notional turnover of $10,967.29 (calculated from OHLCV data).

Structure & Formations


Price action shows a bearish breakdown from the 8.17–8.19 consolidation range, marked by a bearish engulfing pattern. A key support level appears to be forming near $8.11, where the price has stalled for several hours. Resistance at $8.22 has failed to hold during multiple tests, indicating weakening bullish momentum.

Moving Averages


On the 5-minute chart, the 20 and 50-period moving averages have both turned sharply lower, confirming a bearish tilt. Daily moving averages (50, 100, 200) are likely aligned with this bearish bias, though exact values are not available in the provided dataset.

MACD & RSI


Momentum indicators suggest a strong bearish phase. The RSI has fallen into oversold territory near 30, which may indicate a potential bounce but does not confirm a reversal. MACD is negative and declining, reinforcing bearish momentum.

Bollinger Bands


Volatility increased during the selloff to $8.11, with price breaking below the lower Bollinger Band. The bands have since contracted, suggesting a potential period of consolidation or another directional move.

Volume & Turnover


The most aggressive selloff occurred between 18:00 and 19:30 ET, where turnover spiked. Volume then sharply declined after 08:00 ET, indicating waning interest. The divergence between price and volume suggests a possible pause in the downward trend.

Fibonacci Retracements


Recent swings from 8.11 to 8.27 show a 61.8% retracement near $8.19, which has acted as a key resistance level. If price breaks below the 38.2% level at $8.14, it could signal a deeper bearish phase.

Price appears to be in a consolidation phase near $8.11 and may test this level again in the next 24 hours. Investors should monitor for a break below $8.11 for confirmation of a new downtrend, but risk remains skewed to the downside in the near term.