$MAGMA 1H level has been in a healthy pullback and consolidation phase after its significant increase in volume yesterday. The price is supported above the 1H EMA20 (0.1048), and it stands firmly above the EMA50 (0.1025) at the 4H level, indicating that the trend structure remains intact. The key point is: open interest (OI) remains stable during the price pullback without a significant decline, suggesting that the bulls have not exited and are instead supporting and accumulating at this position. The depth of the buy orders (0.57% imbalance) shows strong support below.
🎯 Direction: Go Long
🎯 Entry/Limit Order: 0.1050 - 0.1055 (Reason: 1H EMA20 support zone, upper boundary of previous dense trading area)
🛑 Stop Loss: 0.1023 (Reason: Break below the 4H EMA50 and the low of the previous 4H candlestick)
🚀 Target 1: 0.1110 (Reason: Previous high resistance level, also the peak after yesterday's increase)
🚀 Target 2: 0.1160 (Reason: Daily level previous high area, ATR 1:1.5 extension)
🛡️ Trade Management:
- Position Suggestion: Light Position (Reason: Hot Coin has significant volatility, risk per trade must be controlled)
- Execution Strategy: After the price reaches 0.1110, reduce position by 50% and lock in part of the profit, moving the stop loss of the remaining position to the entry price (break-even level). If the price cannot effectively break through 0.1110 and pulls back, exit entirely.
Depth Logic: In the past 24 hours, the increase has exceeded 12%, but the funding rate is only 0.0168%, indicating no extreme greed and low short squeeze risk. The 1H RSI (54.4) is in a healthy area and has the momentum for another upward attack. Market logic suggests that the price increase is accompanied by stable positions, leaning towards the main force entering rather than a simple short squeeze. The current price has formed a small flag pattern at the 1H level, with a breakout imminent.
Trade here 👇$MAGMA
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