MAGIC Is Watching the Exit - Can $0.26 Be Reached?
0.2348
-%2.85
Perp
0.2344
#Magıc -%2.9 is quietly preparing for a potential move. The price, trading at $0.2376, is forming a descending wedge on the 4-hour chart. This is a formation that typically signals a bullish reversal. The price is consolidating between a lower high and a higher low, with strong support around $0.22-$0.225. If this level holds, an upward breakout could be possible.
RSI has recently broken the downtrend line, which is promising and indicates that bullish momentum is increasing. Additionally, the price is slightly above the 25-period moving average, suggesting a short-term correction rather than a trend reversal. Investors are targeting the $0.25 resistance level as the next hurdle. A clear breakout above this level could open the door to $0.26 and beyond. However, if support fails, a deeper pullback may occur.
