$MAGIC USDT (Perpetual Futures) Technical Analysis โ€” 1H Chart

๐Ÿ” Current Overview:

Price: $0.1838 (Up +55.20% in 24h)

24h High / Low: $0.1875 / $0.1176

Volume: 5.67B (MAGIC), 922.37M (USDT)

Mark Price: $0.1838

๐Ÿ“ˆ Technical Indicators:

EMA(7): 0.1738 (short-term bullish momentum)

EMA(25): 0.1572 (strong support area)

EMA(99): 0.1350 (long-term trend turned bullish)

MA(5): 217.5M

MA(10): 221.56M

๐Ÿ“Š Price Action Insights (1H candles):

Strong bullish rally starting from $0.1176 to $0.1875

Short consolidation and continuation pattern visible

Last few candles are bullish, holding above EMA(7) and EMA(25)

Resistance & Support:

Immediate Resistance: $0.1875 (Previous high)

Next Potential Resistance: $0.1900+ (psychological zone)

Immediate Support: $0.1756 (recent minor retracement level)

Stronger Support: $0.1600 (consolidation zone)

๐Ÿ“Œ Trade Idea:

Already in a long? Trail your stop loss just below $0.1756 to secure profits.

Looking to enter?

Wait for a pullback to $0.175 โ€“ $0.178 for a safer long entry

Avoid chasing now unless there's a strong breakout above $0.188

๐Ÿ“‰ Risk Note:

Volume is slightly declining while price is rising โ€” watch for exhaustion.

Set a tight stop-loss if entering now, as a pullback is likely after a 55% move.

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