GMX Traders Eye Potential 90% Rally If Altcoin Breaks Out Past Key Resistance
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Decentralized exchange (DEX) altcoin GMX showing signs of a potential upside breakout according to trader Ali Martinez's technical analysis.
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Martinez sees signs of an inverse head-and-shoulders pattern that could trigger a rally towards $90 if GMX closes above $59.
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The Crypto Dog also previously predicted a nearly 90% rally for GMX if it broke past immediate resistance.
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Bitcoin's Inter-exchange Flow Pulse has dropped below 90-day average, which Martinez says historically signals a broader crypto market trend reversal.
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Bitcoin currently trading around $42.5K, down over 7% in last 24 hours at time of article.