Rising Steadily ---- GMXAlthough the first TVL ranking on Arbitrum has been taken away by Pendle. But it is undeniable that GMX is one of the most innovative protocols in last year, bringing a liquidity provider experience different from Uniswap. While LP collects protocol fees, it can also receive losses from the counterparty, traders, which provides professional investors and institutions with a good financial tool. This is why GMX’s mechanism has been forked by many protocols
As a derivatives DEX, trading volume is the most critical fundamental indicator. After entering 2024, the average daily trading volume on GMX gradually increased and was higher than that in 2023. But on price, GMX will significantly underperform the market in 2024. This is most likely because the circulation of GMX is close to 100%, so there isn’t so much for a premium in the pricing. This does not affect its bullish trend, it just makes rising more stable.
Judging from the candle chart, the continuity of bulls is not strong at the 4h level. A short-term rise and a long-term correction. If you don't have the aid of good indicators, even if you open a long position at a cheap price, you may still close the long position during the pullback.
On May 10, the TSB indicator prompted a BUY signal, which meant a long position signal. You can see that GMX then started to rise and the bulls strengthened every time the columns approached the wavy zone. You don't need to pay attention to the changes of the candles, the TSB indicator can easily help you hold the position.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
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