$GMX /USDT BEARS MAINTAIN PRESSURE – WATCH FOR A POSSIBLE SUPPORT RE-TEST
GMX is struggling to hold above $18.20 after facing continuous selling from the $20.17 high. The downtrend remains intact on lower timeframes, and any failure to reclaim $18.50 may open the way for another push towards the $17.40 support zone.
Trade Setup (Short-Term Short):
Entry: $18.25 – $18.45
Take Profits: $17.90 / $17.60 / $17.40
Stop Loss: $18.65
Market Outlook:
Selling pressure remains dominant, with lower highs forming and bulls unable to break resistance. A breakdown from the $18.20 level could accelerate downside momentum toward recent lows.
