$GMX Faces Selling Pressure After Reaching the $8.60 Resistance Zone
#GMX is showing signs of a short-term pullback after a strong upward move. The price climbed from around $8.20 to nearly $8.60, but sellers have started pushing the market lower.
Currently trading around $8.49, GMX is showing bearish pressure on the 15-minute chart. If sellers remain in control, the price could move toward $8.40, followed by $8.30.
Key Levels to Watch:
Resistance: $8.60–$8.62
Support 1: $8.40
Support 2: $8.30
Major Support: $8.20
$GMX may continue correcting if it fails to recover above the $8.55–$8.60 zone. However, if buyers step in and regain control, the price could attempt another upward move.
The current setup favors caution as selling pressure increases. Watch support and resistance levels closely and wait for confirmation before entering a trade.