$MAGMA Short-term Volatility Analysis: Magma Finance saw a 34.6% increase over the past 24 hours, while open interest also rose by 10.7%. Behind this sudden short-term surge, there is actually hidden downside pressure and likely a pullback.
During the rally, the excessive accumulation of long positions has already created a clear short-term opportunity for bearish moves. Profit-taking orders and reverse speculative positions have both entered the market. Next, there may be a wave of price retracement.
Current price: $0.30149, 24-hour trading volume: $2.48 million, market cap: $57.28 million.
#加密货币 #DeFi
During the rally, the excessive accumulation of long positions has already created a clear short-term opportunity for bearish moves. Profit-taking orders and reverse speculative positions have both entered the market. Next, there may be a wave of price retracement.
Current price: $0.30149, 24-hour trading volume: $2.48 million, market cap: $57.28 million.
#加密货币 #DeFi