$MAGIC /USDT – Consolidating After Volatile Move

$MAGIC is currently at $0.2669 after a significant rally and subsequent retracement. The price saw a sharp move from its 24h low of $0.2388 to a high of $0.3000 before pulling back. It is now consolidating within a new range, suggesting a period of indecision before the next major move. The key will be which side of the range breaks first.

Key Levels to Watch

* Immediate Support: $0.2650 – $0.2600

* Immediate Resistance: $0.2750 – $0.2800

* Next Bullish Target: $0.2900 – $0.3000

* Bearish Risk: A break below $0.2580 could trigger a retest of the recent lows.

Trade Setup

Bullish Reversal Play:

* Entry: Above $0.2750 on a confirmed breakout with increasing volume.

* Stop Loss: Below $0.2680.

* Targets: $0.2800 → $0.2880 → $0.2980.

Bearish Breakdown Play:

* Entry: Below $0.2650 with confirmed breakdown and volume.

* Stop Loss: Above $0.2720.

* Targets: $0.2580 → $0.2500 → $0.2400.

Pro Tip: This asset is in a consolidation phase. Wait for a clear breakout above $0.2750 or a breakdown below $0.2650 before entering to avoid being caught in whipsaw price action.