$GMT /USDT – Bearish Setup Active After Rejection at Local Resistance

$GMT has faced a clear rejection around the $0.0616 level, creating a bearish engulfing setup on the 15-minute chart. The price failed to sustain above key resistance, signaling short-term downside potential.

Current Price: $0.0596

Resistance Zone: $0.0610 – $0.0616

Support Zone: $0.0555 – $0.0547

Short Trade Setup:

Entry Zone: $0.0595 – $0.0598

TP1: $0.0575

TP2: $0.0560

Final TP: $0.0547

Stop Loss: $0.0616

Why This Setup Makes Sense:

Price got rejected at resistance with weakening momentum. If it breaks below the recent consolidation block, a further drop is likely.

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