Alright, let's break down this $MAGIC chart.
Looks like we had a decent pump earlier, pushing up towards that 0.1979 area, which seems to be acting as some pretty strong resistance right now.
Volume was definitely there on the way up, but it's tapered off significantly on this pullback.
We're currently hanging around 0.1723. We saw a pretty sharp correction after that last peak. Good to see some buyers stepping in at these levels, trying to form a base.
If we can hold this 0.17 zone, maybe we see another attempt at that resistance. But if we lose it, we could be looking at a retest of the lower 0.16s.
Gotta watch that volume on any potential bounces. Without it, it's tough to sustain a move. Keep an eye on the candles over the next hour or so for more confirmation.
