🚨 $MAGIC LONG: Strong Momentum After a 1H Breakout — NEXT TARGET $0.1600
LONG TRADE SETUP
Entry: $0.1480–$0.1500
TP1: $0.1530
TP2: $0.1560
Next Price: $0.1560
Extended Target: $0.1600
SL: $0.1450
$MAGIC has surged 23.9% in the past hour, backed by $54.3M in trading volume and a 108.8% increase in trades. Open interest is also up 5.4%, suggesting fresh positions are entering the market.
The $0.1480–$0.1500 zone is worth watching for a potential continuation entry, provided buyers defend the area and momentum holds. If buying pressure continues, $0.1530 is the first target, followed by $0.1560 and an extended move toward $0.1600.
The long/short ratio at 0.73 indicates shorts outweigh longs, which could add fuel to a squeeze if price continues higher. However, after such a sharp pump, a pullback is possible.
A break below $0.1450 invalidates this setup. Avoid chasing the pump; wait for confirmation near the entry zone.
LONG TRADE SETUP
Entry: $0.1480–$0.1500
TP1: $0.1530
TP2: $0.1560
Next Price: $0.1560
Extended Target: $0.1600
SL: $0.1450
$MAGIC has surged 23.9% in the past hour, backed by $54.3M in trading volume and a 108.8% increase in trades. Open interest is also up 5.4%, suggesting fresh positions are entering the market.
The $0.1480–$0.1500 zone is worth watching for a potential continuation entry, provided buyers defend the area and momentum holds. If buying pressure continues, $0.1530 is the first target, followed by $0.1560 and an extended move toward $0.1600.
The long/short ratio at 0.73 indicates shorts outweigh longs, which could add fuel to a squeeze if price continues higher. However, after such a sharp pump, a pullback is possible.
A break below $0.1450 invalidates this setup. Avoid chasing the pump; wait for confirmation near the entry zone.