Short Sell Recommendation:
Current Price: 28.600 USDT
Short Sell Suggestion: Open short positions in the range of 28.800 - 29.200 USDT (don't be greedy, advance layer by layer like peeling an onion).
Take Profit Range: 27.500, 26.800, 25.500 USDT (take profit progressively, just in case the market plummets, you can laugh last).
Stop Loss Range: 29.500 - 30.000 USDT (don't hold on stubbornly, risk management is key, recognize mistakes promptly).
1. Resistance and Support Levels
GMX's current resistance level is firmly locked at 29.200 USDT, acting like a stubborn rock, blocking the price's upward movement. If it breaks through 29.500 USDT, it may surge towards 30.000 USDT, but that is merely the 'final leap on the bear's rope.'
The support level below is at 27.500 USDT, which is an important short-term defense line. Once broken, it may head straight to 26.800 USDT, or even test 25.500 USDT.
2. Technical Indicator Analysis
Weak Momentum: Momentum indicators and MACD show weak downward trends, like an owl staying up late, feeling powerless; overall market sentiment leans towards caution.
Moving Average Concerto: Short-term and mid-term moving averages sing a sorrowful song of 'sell', although some long-term indicators support the bulls, short-term selling pressure is significant.
Fibonacci Revelation: The current price is oscillating near the key retracement zone, with weak support, providing space for further downward movement by the bears.
3. Risk Control Recommendations
Although the technical outlook is bearish, market fluctuations are unpredictable. Set strict stop-losses to prevent sudden rebounds from 'burying' the bears.