$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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