🚨 $MAGIC plunges 33%: Are the bears crushing the bulls, or is it time to catch the bottom?

The $MAGIC coin has become buyers’ worst nightmare today, plunging more than 33% in just 24 hours! 📉 Market panic is mounting, and daily trading volume for the #MAGICUSDT pair is off the charts, surpassing $669 million. Money is pouring out in a steady stream.

On the daily timeframe, we’re seeing a brutal sell-off. After a vertical surge to $0.16369, big money completely unloaded its positions onto late-arriving longs, driving the price down to $0.10135. The price has now broken through local levels and is rapidly approaching dynamic support at EMA(7), at $0.08760. RSI(6) has turned sharply downward, while On-Balance Volume (OBV) confirms a mass exit of big money from the asset.

What should traders do? The price is falling at tremendous speed, and this is a classic trap for anyone trying to catch a falling knife without confirmation of a reversal. On the other hand, volatility is incredible—an ideal time to refine short positions or catch a precise bounce into a long when sellers finally run out of steam!

👇 I’m tracking MAGIC’s volume, liquidations, and order book every second via the trading widget below. Head to the chart to open a trade on the day’s hottest move!