$MAGIC Cooling Off After a Strong Rally or Gearing Up for Another Push?
MAGIC is trading at 0.2662, showing impressive gains of over 9% today but now facing short-term selling pressure after hitting a 24h high of 0.3000. Price action is consolidating near support, with the next breakout or breakdown set to define the next trend move.
Key Levels to Watch
• Resistance: 0.2740 – A breakout could lead to retests of 0.2800 and 0.2900, with a strong push potentially revisiting the 0.3000 peak.
• Support: 0.2640 – Losing this could open a drop toward 0.2580 and 0.2500.
Trade Setup – Expect High Volatility
Bullish Entry: A confirmed move above 0.2740 could target:
• Tip 1: 0.2800
• Tip 2: 0.2900
Bearish Entry: A break below 0.2640 could target:
• Tip 1: 0.2580
• Tip 2: 0.2500
Market Sentiment:
Buyer dominance remains strong with over 70% buy-side order flow, but the rally’s momentum is slowing. Watch for volume spikes to confirm the next direction.
