$GMX is currently experiencing a downtrend, with a 24-hour price change of -1.413%.

The current price range between $13.04 and $13.59 shows weakness near the resistance level.

Bollinger Bands indicate potential volatility as the price approaches the lower band.

Support is tested at $13.04, suggesting a risky downside if broken.

Macroeconomic factors, including inflation data and regulatory news, may continue to pressure the crypto market.

Bitcoin's influence remains unclear, adding uncertainty to GMX’s movements.

Traders should consider a short-term approach due to the prevailing volatility.

Key takeaway: Monitor macroeconomic trends closely as they could dictate GMX's next significant move.