$MAGIC
and $GRASS
Both made it onto the unusual-movers list today, with contract trading driving the price action. MAGIC is up 118% in a week, and GRASS has already broken above its previous high.
1、#MAGIC : Up 40% in 24 hours. In the early hours of October 11, a single 4-hour candlestick surged directly from 0.098 to 0.124, followed by five consecutive bullish candles. But while the price made a new high, trading volume was 28% lower than the day before. Futures are pushing the price up, while spot traders are selling. In this situation, the market could soon reach a short-term top. You can wait for a pullback to 0.123–0.127, or to 0.116. Only consider following the move if it holds above 0.1474 and doesn’t fall below that level on a pullback.
2、#grass : Up 25% in 24 hours, and has just broken above the previous high of 0.819. There isn’t much resistance overhead, with only 0.90 to clear. Short-term capital is driving the price up; wait for a pullback to 0.84–0.85. If it falls below 0.83, this rally is over.
Rallies fueled by futures trading can surge hard, but they can also fall just as fast. Appearing on the unusual-movers list only means that capital is flowing in; it doesn’t mean it’s a good time to buy.
and $GRASS
Both made it onto the unusual-movers list today, with contract trading driving the price action. MAGIC is up 118% in a week, and GRASS has already broken above its previous high.
1、#MAGIC : Up 40% in 24 hours. In the early hours of October 11, a single 4-hour candlestick surged directly from 0.098 to 0.124, followed by five consecutive bullish candles. But while the price made a new high, trading volume was 28% lower than the day before. Futures are pushing the price up, while spot traders are selling. In this situation, the market could soon reach a short-term top. You can wait for a pullback to 0.123–0.127, or to 0.116. Only consider following the move if it holds above 0.1474 and doesn’t fall below that level on a pullback.
2、#grass : Up 25% in 24 hours, and has just broken above the previous high of 0.819. There isn’t much resistance overhead, with only 0.90 to clear. Short-term capital is driving the price up; wait for a pullback to 0.84–0.85. If it falls below 0.83, this rally is over.
Rallies fueled by futures trading can surge hard, but they can also fall just as fast. Appearing on the unusual-movers list only means that capital is flowing in; it doesn’t mean it’s a good time to buy.