đš $GMX UNDER PRESSURE â WHAT'S NEXT? đš
$GMX is trading at $28.97, down 12.29% after a sharp rejection at the recent high of $35.29. The selling pressure is intensifying, but critical levels could decide its next move.
đĄ Key Levels to Watch:
Immediate Support: $28.00 â Holding this level could spark a recovery.
Critical Resistance: $30.36 â A breakout above this zone is needed to regain momentum.
Potential Downside: If $28.00 breaks, expect a drop toward $24.66 or even $19.73.
đ Volume Surge â Bearish or Bullish?
With a spike in volume, the market is signaling high interest, but the bearish candlesticks suggest caution.
⥠Trade Setup:
Bullish Scenario: Enter above $30.36 with targets at $32.50 and $35.00. Stop loss at $28.00.
Bearish Scenario: Short below $28.00 with targets at $24.66 and $19.73. Stop loss at $30.36.
đ Market Outlook:
The current momentum leans bearish, but a rebound is possible if bulls defend key support. Stay alert for confirmation signals before entering.
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