#gmx

🔺 Formation:

A clear Rising Wedge formation has formed on the chart.

This formation is generally interpreted as a bearish reversal signal.

The price has approached the lower band of the formation and it seems like a breakout has started.

🎯 Target Price:

DirectionTarget Price (USDT)Description🔽 Down10,115 USDThe height of the wedge projected downwards

🧠 Technical Observations:

Current Price: 13,733 USDT

Breakout: Not yet clearly broken down, but in contact with the support line.

Downside Potential: There is a signal for an approximately 26% retracement.

🔁 Support – Resistance Levels:

TypeLevel (USDT)DescriptionSupport13,200Lower band of the wedgeMain Target10,115Formation targetResistance14,300Upper band of the wedge

🔍 Possible Scenarios:

ScenarioConditionExpected Outcome📉 Continued DeclineClosing below 13,200 1-2 timesSelling towards the target🔁 RetestPullback to the 13,200 – 13,500 bandSelling opportunity❌ Cancellation ConditionStrong volume close above 14,400Formation is invalidated

✅ General Assessment:

TitleInformationMain FormationRising WedgeDirectionDown (on the verge of potential breakout)Risk StatusHigh volatility observedTarget Price10,115 USDT

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