📊 Technical analysis for MAGIC
🔍 Current situation
- Current price: 0.1620 USDT
- Daily increase percentage: +34.78%
- Highest price in 24 hours: 0.1758 USDT
- Lowest price in 24 hours: 0.1178 USDT
- Trading volume over 24 hours:
- USDT: 26.01 million
- MAGIC: 173.33 million
📈 Notes from the chart
- There is a very strong daily bullish candle, indicating a sudden price explosion.
- The price broke through previous resistances after a period of sideways fluctuation.
- Trading volume is very high, reinforcing the credibility of the upward movement.
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🎯 Potential targets if the upward movement continues
TargetExpected PriceNotes🎯 First Target0.1750 USDTRe-test of the highest peak of the day🎯 Second Target0.1900 USDTPsychological and technical resistance🎯 Third Target0.2150 USDTPrevious peak in June🎯 Fourth Target0.2500 USDTMedium-term target if momentum continues---
🛑 Support areas in case of a correction
SupportExpected PriceNotes🛡️ First Support0.1450 USDTSupport close to the candle bottom🛡️ Second Support0.1300 USDTMedium-term support🛡️ Third Support0.1170 USDTLowest price in 24 hours---
🔮 Future predictions
📌 Positive scenario:
- If the price holds above 0.1600 USDT, we might see a surge towards 0.175 then 0.190.
- Continued momentum and increased trading volume could push the price towards 0.215 or even 0.250.
⚠️ Negative scenario:
- In case of reversal candles or a decrease in trading volume, the price may return to test support at 0.145 or 0.130.
- Breaking 0.1170 could weaken the upward trend and bring the price back to pre-explosion levels.
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🧠 Tips for traders and investors
- Do not enter immediately after a breakout candle—wait for confirmation or correction.
- Watch the level of 0.1600: if maintained, it is a positive signal.
- Use a stop loss below 0.130 to reduce risks.
- Split your entry into stages and do not enter all your capital at once.