$MAGIC experienced a sharp rejection after rallying toward $0.160 on the 1-hour chart, with price dropping nearly 14% to around $0.106. The sudden sell-off has erased a significant portion of the recent gains and brought price back toward the breakout region.
The marked demand zone around $0.090–$0.100 is now the key area to watch. Buyers need to defend this region to prevent further downside and create room for a recovery.
The chart's projected path suggests a potential rebound toward $0.150–$0.160 if support holds and bullish momentum returns. However, continued selling below $0.090 would weaken that outlook and expose price to a deeper correction.
After such a volatile move, confirmation of a stable reaction around demand is important before assuming the previous uptrend will resume.
#MAGIC #Altcoin Season# #Crypto
The marked demand zone around $0.090–$0.100 is now the key area to watch. Buyers need to defend this region to prevent further downside and create room for a recovery.
The chart's projected path suggests a potential rebound toward $0.150–$0.160 if support holds and bullish momentum returns. However, continued selling below $0.090 would weaken that outlook and expose price to a deeper correction.
After such a volatile move, confirmation of a stable reaction around demand is important before assuming the previous uptrend will resume.
#MAGIC #Altcoin Season# #Crypto