Update $MAGMA :
The price is now undergoing consolidation around the 0.51000$ area.
According to our technical analysis across multiple timeframes, this consolidation may end with a breakout above the top of the last minor peak that formed at 0.57955$
Then it will face resistance at the following levels:
0.59514$
Then strong resistance at 0.63469$
Until it tests the 0.67179$ level.
It may then bounce from there in a bearish trend down to 0.40818$, which almost intersects with the midpoint of the bullish weekly gap.
The correction could also extend to 0.34777$, which represents the previous daily high that almost coincides with the 0.618 Fibonacci golden ratio on the weekly timeframe.
Then it should rebound again in an uptrend..
I still insist that the final target of this upward momentum is 1.3$
Warning ✋⚠️:
This is not financial advice, but rather an engineering/technical analytical perspective.
Do your own research.
The price is now undergoing consolidation around the 0.51000$ area.
According to our technical analysis across multiple timeframes, this consolidation may end with a breakout above the top of the last minor peak that formed at 0.57955$
Then it will face resistance at the following levels:
0.59514$
Then strong resistance at 0.63469$
Until it tests the 0.67179$ level.
It may then bounce from there in a bearish trend down to 0.40818$, which almost intersects with the midpoint of the bullish weekly gap.
The correction could also extend to 0.34777$, which represents the previous daily high that almost coincides with the 0.618 Fibonacci golden ratio on the weekly timeframe.
Then it should rebound again in an uptrend..
I still insist that the final target of this upward momentum is 1.3$
Warning ✋⚠️:
This is not financial advice, but rather an engineering/technical analytical perspective.
Do your own research.