$MAGMA : Preparing for a LONG on extreme oversold.
The asset is testing the 24h low of 0.23728 with an extremely oversold RSI on the 15m timeframe of 12.30, suggesting a high probability of a rebound via mean reversion. Although the trend is bearish, the extreme extension versus the MA7 makes a short-term relief rally likely before any further drop.
Entry: 0.23318 – 0.23843
Stop Loss: 0.2215
TP1: 0.2550
TP2: 0.2704
Click here to trade 👇
The asset is testing the 24h low of 0.23728 with an extremely oversold RSI on the 15m timeframe of 12.30, suggesting a high probability of a rebound via mean reversion. Although the trend is bearish, the extreme extension versus the MA7 makes a short-term relief rally likely before any further drop.
Entry: 0.23318 – 0.23843
Stop Loss: 0.2215
TP1: 0.2550
TP2: 0.2704
Click here to trade 👇