🫡🫡A solid $5119.4 was liquidated at $0.53746, and the bulls are making their move! The short squeeze has begun, and now the price could be ready for a significant rise. Will $MAGIC continue its ascent, or will it face resistance? Let's break it down for your next trade!🤔🤔
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🔥What's going on with $MAGIC?🤔
Market Impact:🧐 The liquidation of short positions suggests that the bearish pressure is fading, and buying momentum is starting to take over. This could be the start of an up move for $MAGIC if the bulls keep pushing.
Current Price Action: MAGIC is trading just above $0.53, a critical support level. If it holds, we could see the price go higher, but it is all about maintaining this level.
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🔍 Key levels to watch🧐🧐🧐
Buy Zone: $0.52 - $0.54
This is a key support range to watch. If MAGIC holds in this zone and shows signs of strength, it could be a great entry point.
Target levels:
Short term: $0.60 (immediate resistance)
Medium term: $0.65 (strong breakout zone)
Long term: $0.75 (if bullish momentum continues)
Stop Loss: $0,50
Set your stop loss just below the support zone to protect yourself from any sharp pullback.
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📈 Strategy Summary
1. Entry Plan: Try to enter between $0.52 and $0.54 if MAGIC remains strong and shows signs of upward movement with good volume.
2. Breakout Watch: A break above $0.60 could lead to a rally towards $0.65 or even higher.
3. Risk Management: Place your stop loss at $0.50 to manage risk and minimize losses if the market moves against you.
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Short sell-offs often result in sharp price movements. Make sure to wait for volume confirmation and a clear trend before making larger moves.
This is not financial advice. Always do your own research and trade responsibly.
How do you plan to trade $MAGIC?
#MAGIC/USDT Are you entering now or waiting for more signals? Share your strategy below! 🚀$MAGIC