๐๏ธDate -Junly 09,2025
Current Price:
โก๏ธ $0.1751 (+48.01% in 24h)
24h High / Low:
๐บ High: $0.1866
๐ป Low: $0.1178
Volume:
๐ฐ 24h Volume: ~341.61M MAGIC
๐ต USDT Volume: ~54.41M
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๐งช Key Technical Observations
๐ท Price & EMAs:
Current price: $0.1751
EMA(7): $0.1443 โ price is well above the short-term EMA, signaling strong bullish momentum.
EMA(25): $0.1370
EMA(99): $0.1588 โ The price broke above the EMA(99) decisively, indicating a potential shift from downtrend to uptrend.
๐ท Momentum Indicators:
RSI(6): 83.53
Deep into overbought territory (>70) โ suggests that the rally is strong but could be nearing exhaustion soon.
StochRSI: 69.71
Still rising, not maxed yet โ so bullish momentum could extend slightly.
๐ท Volume:
Huge spike in daily volume (~67M) compared to prior days โ confirms the breakout has strong participation.
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๐ฎ Trade Scenarios & Strategy
๐ Bullish Scenario:
If price sustains above EMA(99) ~$0.1588 and holds $0.165โ0.170 as support: โ Next resistance to watch:
$0.1866 (todayโs high)
$0.190โ$0.195 zone
Aggressive Long Entry:
๐ฏ Around $0.165โ$0.170
๐ Stop-loss: Below $0.150 (to protect against fakeout)
๐ฏ Target 1: $0.186
๐ฏ Target 2: $0.195
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๐ Bearish Scenario:
If price fails to hold above $0.165 and closes back below $0.158 (EMA99), we may see: ๐ป Retracement to support zones:
$0.144 (EMA7)
$0.137 (EMA25)
Short Setup (Conservative): ๐ Entry: Close below $0.158
๐ Stop-loss: Above $0.165
๐ฏ Target 1: $0.144
๐ฏ Target 2: $0.137
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๐ Risk Management
โ ๏ธ RSI >80 signals overbought โ good to scale in slowly rather than all at once.
โ ๏ธ Manage risk per trade: 1โ2% of your capital.
โ ๏ธ Be ready for a pullback after such a strong daily candle.
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๐ Conclusion
MAGIC has broken out strongly today with a +48% surge and solid volume, closing above key EMAs โ bullish for now.
However, overbought indicators mean a short-term pullback or consolidation is likely.
If youโre bullish, look for dips toward $0.165โ$0.170 for entry with stops below $0.150.
If youโre bearish or cautious, wait for confirmation of a breakdown below $0.158 to short.
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๐ Trade wisely, and donโt chase blindly โ wait for confirmation & protect your capital. ๐ Follow for more daily crypto insights!
Trade from here ๐ $MAGIC
#BinanceTurns8 #BreakoutTradingStrategy #MAGIC/USDT
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