$MAGMA just got hit with a brutal 37% dump.
After rallying toward $0.58, sellers completely took control and pushed price down to $0.328.
Key levels:
Resistance: $0.35, then $0.58
Support: $0.30
Major support: $0.206
If $0.30 fails, the $0.206 zone could become the next major test.
The chart is clearly bearish after this sharp rejection. I would wait for confirmation rather than blindly catching the falling knife.
Trade smart. Protect your capital.
After rallying toward $0.58, sellers completely took control and pushed price down to $0.328.
Key levels:
Resistance: $0.35, then $0.58
Support: $0.30
Major support: $0.206
If $0.30 fails, the $0.206 zone could become the next major test.
The chart is clearly bearish after this sharp rejection. I would wait for confirmation rather than blindly catching the falling knife.
Trade smart. Protect your capital.
