$GMX is currently in a bearish market structure, trading at 15.09 USDT.
With immediate support at 14.5 USDT, a break below could intensify selling pressure.
Conversely, a move above the resistance level of 16.23 USDT may signal a trend reversal.
Given the RSI at 35.03, the asset is nearing oversold territory, offering a potential pullback entry.
Risks include Bitcoin's fluctuations and ongoing macroeconomic events, which could impact overall market sentiment.
