#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
