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$GMX is sitting at a pressure point — things are getting interesting.
Descending channel still in play — tension building.
Price grinding into mid-range resistance $6.5–$6.8
Rejections here keep structure bearish short-term. Sellers still active.
Lower highs remain intact
Trend hasn’t flipped yet — confirmation needed.
If rejection continues…
Move back into $5.3–$5.7 demand becomes likely
That zone is where buyers step in.
Clean breakout above the channel
That’s the shift signal
Structure flips → momentum follows → upside opens fast
This is a classic squeeze setup.
Compression + clear levels = explosive move loading.
Watching closely —
Break the channel → expansion play
Another rejection → eyes on demand reload zone$GMX