$MAGIC is not bearish here, the crowd is just late.
Down 3.61% to $0.0935, but this selloff has no real conviction. 4h RSI is 32, volume is only 0.1x the 20d average, and shorts are paying funding at -0.011%. That’s squeeze fuel, not clean trend damage. 🩸
Still above the 20d and 50d MAs.
$ETH can drag the market, but MAGIC is already washed out. At $0.10, I’d hold and watch for rejection before doing anything. The weak hands are making noise while liquidity stays thin. ⚡
#MAGIC #Web3
Down 3.61% to $0.0935, but this selloff has no real conviction. 4h RSI is 32, volume is only 0.1x the 20d average, and shorts are paying funding at -0.011%. That’s squeeze fuel, not clean trend damage. 🩸
Still above the 20d and 50d MAs.
$ETH can drag the market, but MAGIC is already washed out. At $0.10, I’d hold and watch for rejection before doing anything. The weak hands are making noise while liquidity stays thin. ⚡
#MAGIC #Web3