$MAGIC /USDT’s sharp +35% rally and proximity to the $0.3246 resistance, the chart suggests the move might be overextended in the short term. High volume spikes often signal profit-taking zones, and with strong support much lower at $0.2564, a pullback could be likely.
A short position here would target the $0.256–$0.222 range, but tight risk management is crucial — if price breaks and sustains above $0.3246, bearish momentum could be invalidated.