$GMX is showing steady strength with a +5.13% gain in the last 24 hours, currently trading around 6.76 after tapping a session high near 6.89. The chart reflects a strong bounce from the 6.53 area, followed by a structured push into resistance.

After the recent breakout attempt toward 6.89, price entered a short consolidation phase rather than fully reversing. On the 1H timeframe, bullish candles dominate the earlier structure, with pullbacks being absorbed near 6.70–6.75. This kind of compression under resistance often precedes expansion if buyers step in with volume.

The key level now is 6.90. A decisive reclaim and hold above this zone could trigger a fresh upside leg. Losing 6.60 would weaken the higher-low pattern and shift momentum neutral.

Trade Setup

• Entry Zone: 6.65 – 6.80

• Target 1 : 6.89

• Target 2 : 7.20

• Target 3 : 7.55

• Stop Loss: 6.55

If the breakout level is taken with solid volume and strong 1H closes above 6.90, GMX could accelerate toward the 7.20 liquidity pocket and potentially extend higher. However, failure to hold 6.55 would invalidate the short-term bullish structure.

The setup is building pressure — confirmation depends on a clean break above resistance.