Technical Analysis

Gamium Is Finishing A Higher Degree Corrective DeclineAug 4, 2023

Gamium is finishing a higher degree corrective decline, as we see slow price action and corrective wave structure from Elliott wave perspective.

Cryptocurrency Gamium with ticker GMMUSD made a massive rally at the beginning of 2023, which we see it as a five-wave bullish impulse, which has been now following by a higher degree A-B-C corrective decline. After a leading diagonal into wave A, we have seen a running flat correction in wave B, from where we can now see it finishing a five-wave cycle within wave C.

It can be now actually finishing final subwave (5) of C of a larger, higher degree A-B-C correction that can find the support here at the former wave 4 around 0.0005 – 0.0004 area. Keep in mind that first bullish evidence is only above 0.001050 level.

Gamium Is Finishing A Higher Degree Corrective Decline GMMUSD 4H Chart
GMMUSD 4H Chart

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