$GMX /USDT BEARISH SETUP – SUPPORT ZONE UNDER PRESSURE!
Current Price: $11.64 (-3.56%)
Category: DeFi
Exchange: Binance
KEY TECHNICAL LEVELS:
Resistance Levels:
$12.00 – Nearest resistance
$12.38 – 24h high
$12.60 – Previous major supply zone
Support Levels:
$11.20 – Intraday support
$10.80 – Strong demand zone (historical bounce level)
TRADE SETUP – SHORT POSITION IDEA:
Entry: $11.60 – $11.70
Take Profit:
TP1: $11.20
TP2: $10.80
Stop Loss: $12.05 (just above key resistance)
Confirmation: Rejection from $12.00 zone or lower-high candle on 1H/4H confirms weakness.
RISK MANAGEMENT TIPS:
Keep your risk per trade below 2% of your capital.
Use stop-loss religiously, especially in volatile DeFi tokens.
$GMX is under heavy selling pressure after failing to hold above $12.38. Unless bulls reclaim $12.60+, expect further downside.
Want a bullish reversal setup if price bounces from $11.20? Just ask!
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