โจ $MAGIC /USDT: Breakout or Bull Trap? The Spell Has Been Castโฆ ๐ง๐
After weeks of sleepy sideways chop, MAGIC just pulled a surprise โ exploding through multiple resistance levels and tagging $0.20 before getting slapped back down to $0.1861.
๐ Key Observations:
๐ Price surged +35% in less than 24 hours
Reclaimed all 3 major MAs: MA 7 ($0.1745), MA 25 ($0.1558), and MA 99 ($0.1650)
Rejection wick from $0.20 signals short-term profit-taking
๐ฅ Bullish Targets (If momentum continues):
$0.20 โ Reclaim and flip needed
$0.2150 โ Prior high
$0.2300 โ Open skies above
๐งฏ Bearish Risks:
Loss of $0.1650 (MA99) flips the script bearish again
$0.1480 and $0.1380 are demand zones to watch
Bull trap scenario if $0.20 remains unbroken
๐ Volume Surge + MA Convergence = Volatility Alert ๐จ
