⚠️ $MAGIC /USDT – Short Setup After Sharp Pump 🎯📉
Current Price: 0.2680 USDT (+9.08%)
MAGIC rallied from 0.2388 to test 0.3000, but failed to sustain above resistance. The sharp rejection, along with cooling volume, hints at potential profit-taking and a short-term pullback.
🔍 Technical Insights:
Strong resistance at 0.3000 holding firm
Lower highs forming on shorter timeframes
RSI showing signs of bearish divergence
Price slipping back toward key intraday supports
📊 Trade Setup (Short):
Entry: 0.2700 – 0.2730
Target 1: 0.2580
Target 2: 0.2450
Stop Loss: 0.2800
Reason: Failed breakout attempt at 0.3000 with declining buying pressure could trigger a retracement before bulls try again.