🔥 Update and analysis of $MAGIC / USDT - strong breach and positive momentum! 🚀
MAGIC coin is witnessing an excellent upward move on the daily timeframe (1D), as it has surpassed key levels with a rise exceeding +9% over the past 24 hours.
📊 Key technical points:
1️⃣ Trading above the moving averages: The price is currently stabilizing above the MA(7), MA(25), and MA(99) moving averages, which supports the bullish trend.
2️⃣ RSI indicator: It is at 80.78 (overbought zone), signaling the possibility of a pullback test or a healthy correction before continuing.
3️⃣ Target and resistance levels:
📍 First resistance: $0.0651
🎯 Next target: $0.0789
4️⃣ Support levels:
🛡️ First support: $0.0557
🛡️ Second support: $0.0493
💡 Trading advice:
Momentum is very strong, but since RSI has reached the overbought zone, it’s better to avoid random entry driven by FOMO and wait for price to base on support, or wait for a breakout and consolidation above $0.0652 to confirm continuation.
⚠️ This is not financial advice. Please always manage risk and do your own research (DYOR).
#MAGIC #Binance #CryptoAnalysis #Trading #Crypto 🚀$MAGIC
MAGIC coin is witnessing an excellent upward move on the daily timeframe (1D), as it has surpassed key levels with a rise exceeding +9% over the past 24 hours.
📊 Key technical points:
1️⃣ Trading above the moving averages: The price is currently stabilizing above the MA(7), MA(25), and MA(99) moving averages, which supports the bullish trend.
2️⃣ RSI indicator: It is at 80.78 (overbought zone), signaling the possibility of a pullback test or a healthy correction before continuing.
3️⃣ Target and resistance levels:
📍 First resistance: $0.0651
🎯 Next target: $0.0789
4️⃣ Support levels:
🛡️ First support: $0.0557
🛡️ Second support: $0.0493
💡 Trading advice:
Momentum is very strong, but since RSI has reached the overbought zone, it’s better to avoid random entry driven by FOMO and wait for price to base on support, or wait for a breakout and consolidation above $0.0652 to confirm continuation.
⚠️ This is not financial advice. Please always manage risk and do your own research (DYOR).
#MAGIC #Binance #CryptoAnalysis #Trading #Crypto 🚀$MAGIC
