$GMX /USDT Breakdown Begins – Sellers Step In After Local Top
GMX hit a 24h high of $13.97, but faced strong rejection and is now pulling back sharply, currently trading at $13.42. After a parabolic move from $12.65, the formation of lower highs and rising sell volume signals short-term weakness.
This setup presents a solid shorting opportunity if price fails to reclaim the $13.70 level.
Short Trade Signal
• Entry Zone: $13.40 – $13.60
• TP1: $13.05
• TP2: $12.70
• TP3: $12.40 (final target)
• Stop Loss: Above $13.85
If the price closes below $13.30 with volume, expect further downside pressure. Monitor closely and trail stops accordingly.
