$GMX / USDT – Breakdown in Motion as Selling Pressure Builds
After reaching a 24-hour peak of $13.97, GMX has faced stiff resistance and is now retracing sharply, trading around $13.42. The recent surge from $12.65 appears to be losing steam, with lower highs forming and sell volume increasing—signs of potential short-term bearish momentum.
This sets up a potential short trade if the price fails to reclaim the $13.70 level.
🔻 Short Setup:
Entry Range: $13.40 – $13.60
Target 1: $13.05
Target 2: $12.70
Target 3 (Final): $12.40
Stop Loss: Above $13.85
A decisive close below $13.30 on strong volume would likely trigger additional downside. Stay alert and adjust stop-loss levels as the move progresses.
