#MAGIC/USTD #BreakoutTradingStrategy
📊 Technical Summary
Overall trend: Mixed. On TradingView, short-term indicators lean buy, but weekly and monthly trends tilt neutral or sell .
Moving averages: Daily EMAs (50 & 100) are bullish, showing price above these averages .
Oscillators: RSI on daily chart signals overbought (~77), but weekly RSI is neutral .
Chart patterns: Analysts note a potential breakout from a descending channel or falling wedge—a classic bullish reversal formation .
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🔍 Trade Signal Highlights
From recent TradingView ideas on MAGIC/USDT:
Dexter_The_Trader:
MAGIC broke above resistance on the daily chart.
Entry near $0.15, targeting 50–60% upside in short term .
CryptoAnalystSignal:
1‑hr channel bounce, entry ≈ $0.118–$0.138, targets up to ~$0.175 .
Ren_MomentumTrader:
Lower-1‑hr support at ~$0.1533 with targets near $0.1750 .
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⚠️ Key Levels to Watch
Support zone: 0.11–0.13 USD range—bounced recently, seen as a strong base .
First resistance: Around $0.215–0.22 (200‑day EMA/resistance). A breakout above could pave way to next levels (~$0.29–$0.35) .
Pivot failure risk: If it fails to hold above $0.13–$0.15, deeper pullbacks to ~$0.08 zone are possible .
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🗓️ Strategy Suggestions
1. Breakout entry: Consider entering if price breaks above $0.215 on decent volume, aiming for ~$0.29 resistance next.
2. Support bounce trade: Enter near $0.13–$0.15, with tight stop-loss just below $0.12.
3. Manage overbought risk: Daily RSI is high—watch for retracement or consolidation before new entries.
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✅ Risk & Confirmation
Overbought conditions could trigger a short pullback.
Volume confirmation is crucial—signals without volume may be false.
Project environment: MAGIC is gaming/NFT token on Treasure Metaverse; broader crypto sentiment can swing it .