$USDC
If you entered a sell position on the **MAGIC/USDT** pair based on the previous data, here is the analysis and follow-up necessary for effective trade management:
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### **1. Analysis of the Entry Point in Selling**
- **Price at Entry**: let's assume you entered at **0.1459** (or close to it).
- **Key Levels**:
- **Upper Resistance**: 0.1496 (sector level).
- **Lower Support**: 0.1397 (Square level).
- **Current Drawdown**: -1.35% indicates selling pressure, but it may be a temporary correction.
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### **2. Determining Stop-Loss and Take-Profit Targets**
- **Stop-Loss**:
- It is preferable to place it above **0.1496** (strong resistance) or at **0.1480** if you are more conservative.
- Reason: Breaking resistance may indicate a resumption of the upward trend.
- **Take-Profit**:
- First target: **0.1397** (Square support) — Return ~4.2%.
- Second target: If support at 0.1397 is broken, it may continue to drop to **0.1350** or lower (depending on trading volume).
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### **3. Factors to Monitor**
- **Trading Volume**:
- If volume increases when testing 0.1397, this may indicate the likelihood of breaking support or a price rebound.
- **Order Book**:
- Check for a sell wall at 0.1459-0.1496 or a buy wall at 0.1397.
- **Overall Market Context**:
- If the overall market (like BTC or the gaming sector) is declining, it may support the continued drop of MAGIC.
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