After an extended downtrend, the 4-hour chart of Goatseus Maximus (GMAX) / USDT is showing signs of stabilization and a potential trend reversal. The price has found support in the $0.11–$0.12 range, where accumulation appears to be taking place — characterized by higher lows and an early structure of upward movement.
The WaveTrend (WT_LB) indicator is currently in the oversold zone and beginning to turn upward. This behavior often suggests that selling pressure is weakening and the market may be preparing for a bullish move. A green cross on this indicator can be interpreted as an early buy signal.
Additionally, the moving averages (MA 10, 30, 60, and 120) are starting to flatten out, indicating a potential transition out of the previous downtrend. If the price can break and hold above these averages, it may trigger increased buying interest and momentum.
From a technical standpoint, the $0.14 level remains a key short-term resistance. A successful breakout above this level could open the way for a move toward $0.18, followed by a potential run-up to $0.24, which previously acted as a significant resistance zone and rejection point.
In summary, the current technical setup suggests that if bullish momentum continues and key resistance levels are broken, a move toward $0.24 is achievable in the mid-term.
Potential TP: 0.24 USD
The WaveTrend (WT_LB) indicator is currently in the oversold zone and beginning to turn upward. This behavior often suggests that selling pressure is weakening and the market may be preparing for a bullish move. A green cross on this indicator can be interpreted as an early buy signal.
Additionally, the moving averages (MA 10, 30, 60, and 120) are starting to flatten out, indicating a potential transition out of the previous downtrend. If the price can break and hold above these averages, it may trigger increased buying interest and momentum.
From a technical standpoint, the $0.14 level remains a key short-term resistance. A successful breakout above this level could open the way for a move toward $0.18, followed by a potential run-up to $0.24, which previously acted as a significant resistance zone and rejection point.
In summary, the current technical setup suggests that if bullish momentum continues and key resistance levels are broken, a move toward $0.24 is achievable in the mid-term.
Potential TP: 0.24 USD
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.