24-hour trading turnover of 216 million, price smashed from 0.26399 down to 0.18114, a drop of 22.29%. With $MAGMA —this one knife strike—and the volume didn’t shrink.
The turnover rate is right there—216 million in trading value corresponds to the current market-cap scale, with shares churning on a large volume. This isn’t a slow bleed; it’s a volume-driven liquidation. The sell orders were smashed down hard and fast, and there are buyers on the other side who are still eating; bulls and bears were both viciously grinding in the 0.18–0.26 range for a round.
The closing price of 0.19875 sits slightly below the middle of the day, indicating that the selling didn’t stop at the close. The key support to watch is the low of the pin at 0.18114—break that level and it becomes the start of the next waterfall. Resistance overhead at 0.26399 is the starting point of this round of selloff. For any rebound, first see whether it can hold above around 0.2150.
#MAGMA
The turnover rate is right there—216 million in trading value corresponds to the current market-cap scale, with shares churning on a large volume. This isn’t a slow bleed; it’s a volume-driven liquidation. The sell orders were smashed down hard and fast, and there are buyers on the other side who are still eating; bulls and bears were both viciously grinding in the 0.18–0.26 range for a round.
The closing price of 0.19875 sits slightly below the middle of the day, indicating that the selling didn’t stop at the close. The key support to watch is the low of the pin at 0.18114—break that level and it becomes the start of the next waterfall. Resistance overhead at 0.26399 is the starting point of this round of selloff. For any rebound, first see whether it can hold above around 0.2150.
#MAGMA