GXS showed much strength against BTC, up by almost 11% over the day. Volume soared also, giving momentum to the pair as it bounced off its support, making new highs. After such a rise, we could see some long covering as buyers take their profits, causing some pullback. However, we remain in a strong uptrend and we expect buyers to buy the dips and keep the pressure to the upside.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/...ransparency......... .
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/...ransparency......... .