Here’s a technical breakdown for $GMX /USDT on the 1D (Daily) timeframe.

📊 GMX/USDT – 1D Technical Overview

MetricValueCurrent PriceApprox. $31.27Trend📉 Mid-term Bearish BiasVolumeDecreasing (Vol-GMX low)MA IndicatorsNot specified (assume near 50D/100D range)

🔍 Market Structure Analysis

🔻 Trend Context

Descending price levels and lower highs indicate a bearish or corrective structure.

Volume appears weak, suggesting low conviction in recent price moves.

However, multiple support zones are forming — potential for base-building or accumulation.

🔑 Key Technical Levels

🔴 Resistance Zones

LevelNotes$34.50Short-term resistance$40.50Mid-level ceiling — previous support now resistance$48.00Major swing high – structural break needed to confirm trend reversal

🟢 Support Zones

LevelNotes$27.28Local support – holding for now$24.50–$23.29Strong demand zone historically$21.33Lower bounce level$18.35–$15.02Major long-term support base

⚙️ Trade Setup Ideas

✅ Bullish Reversal Setup

Entry: $27.50–$28.00 (if price pulls back)

Stop: $23.00

Target 1: $34.50

Target 2: $40.50

R/R: ~2.5x+

🔻 Breakdown Play

Entry: Break below $27.00 with confirmation

Target: $23.30 → then $21.33

Stop: $29.00

Invalidation: Daily close above $32.00

🧠 Strategy Notes

🔍 Watch for MA crossovers — if the 20D or 50D MA flattens and turns up, momentum may be shifting.

📉 Failure to hold $27.28 could lead to acceleration toward $23–$21 zone.

📈 If $34.50 is reclaimed, expect a strong rally potential toward the $40s.

Would you like this plotted visually on a candlestick chart or added to a larger multi-token trading strategy sheet?

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