#magic

On the recent MAGIC/USDT chart, we have observed the formation of an HCHI. This pattern consists of three essential parts: two valleys (shoulders) on the sides and a lower valley (head) in the middle. The distinctive thing about the HCHI is that it signals a change in trend or bullish continuation.

Key Analysis Points:

Current Opening Price: The current opening price for MAGIC/USDT is at 1.26 USD.

HCHI Projection: According to technical analysis, the HCHI in the MAGIC/USDT quote has a bullish projection of 30.97%. This implies a possible significant upward move.

Factors to Consider:

Trading Volume: It is crucial to observe the trading volume to confirm the validity of the pattern. A substantial increase in volume during the breakout of the HCHI neck supports the strength of the signal.

Pattern Confirmation: Traders usually wait for confirmation before making decisions. In this case, confirmation would come with an upward breakout of the HCHI neck level.