$GMX /USDT – Bearish Setup Unfolding After $13 Rejection

Current Price: $12.39 (-0.48%)

GMX attempted a bounce but got firmly rejected at the key $13.00 psychological level. The chart is now printing lower highs, and bearish momentum is gaining traction.

Key Levels:

Resistance: $12.80 – $13.00

Support: $12.00 / $11.40

Short Trade Setup:

Entry Zone: $12.40 – $12.60

Targets:

TP1: $12.00

TP2: $11.60

TP3: $11.20

Stop Loss: Above $13.05

Market Insight:

Sell pressure is building with each bounce attempt. The 30-min chart shows a clear downtrend with fading bullish momentum—bears are back in control.

Pro Tip:

Watch for weak volume on green candles. If $12.20 breaks, that’s your cue—momentum could accelerate to the downside. Scale in with confirmation.

Patience pays. Let the trend lead—then ride the fade.