$MAGIC /USDT – After the surge, a retest is underway
MAGIC burst from the $0.16 area to reach a sharp high of $0.2981 within 24 hours, achieving an increase of more than 34%. However, after that strong push, it is now entering a correction phase and is currently trading at $0.2533.
The structure of the red candle indicates that a retest is ongoing. If selling pressure continues, we may see a decline back to the $0.2250 – $0.2300 area to confirm support.
Key levels to watch:
• Immediate support: $0.2450
• Retest area: $0.2250 – $0.2300
• Resistance: $0.2750 – $0.2980
• Trend direction: Generally bullish, but there is a short-term pullback in progress
Watch for a strong bounce from the $0.2250 range before considering a new long entry. Bulls may return if that level holds firmly.