A new low has appeared in $MAGIC 24 hours.
24h: -8.48%, current price: 0.1004, previous low: 0.1009.
Structurally, a new low means the bulls’ line of defense has been breached. On a rebound, first watch to see whether price can reclaim the previous low. If it can’t, the weakness is likely to continue; if it gets back above it, this could turn out to be a false breakdown. What’s your take on this level?
24h: -8.48%, current price: 0.1004, previous low: 0.1009.
Structurally, a new low means the bulls’ line of defense has been breached. On a rebound, first watch to see whether price can reclaim the previous low. If it can’t, the weakness is likely to continue; if it gets back above it, this could turn out to be a false breakdown. What’s your take on this level?