$MAGMA currently trading at $0.530, up 53% after a massive run from $0.340 to the $0.552 high.
Now approaching the resistance zone near $0.552–$0.579.
This structure is important.
Price shot up vertically with strong momentum, but now it's testing a key resistance area. The question is — will sellers step in here, or will buyers push through?
If price rejects off $0.552 and breaks below $0.530, we could see a pullback toward $0.430 and potentially $0.340.
But if buyers reclaim $0.552 with volume and hold above it, the path toward $0.579 opens up.
The next few candles will be telling. Let price show its hand at resistance before making any move.