$GMX recently saw bullish momentum but has since entered a phase of consolidation. Now, all eyes are on the key support area around $12.90 โ a level that could determine its next move.
๐ Potential Trade Setup:
๐ฅ Entry (High-Risk Bounce Zone): $12.80 โ $12.95
๐ Stop-Loss: Below $12.60
๐ฏ Take-Profit Targets:
TP1: $13.30
TP2: $13.70
TP3: $14.00
๐ Technical Overview:
The market is watching closely as GMX retests its recent support. If this level holds firm, a short-term bounce could be on the table. However, a decisive break below $12.80 could open the door to further downside pressure. Volume remains moderate โ suggesting a larger move may be brewing.
โ ๏ธ Reminder: This setup carries higher risk โ ensure proper risk management is in place.
๐ Stay alert and trade smart.
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