$MAGMA 30 hit a new daily high; the current price is 0.4956, and the previous high was 0.4719.
After a new high, there are generally three possible scenarios:
① It pulls back to the previous high, holds, and then makes a new high: strongest
② It moves sideways near the previous high: consolidating and waiting for direction
③ It falls straight back below the previous high and fails to reclaim it: a false breakout
For now, it’s still above the previous high, so let’s see whether scenario ① or ② plays out.
After a new high, there are generally three possible scenarios:
① It pulls back to the previous high, holds, and then makes a new high: strongest
② It moves sideways near the previous high: consolidating and waiting for direction
③ It falls straight back below the previous high and fails to reclaim it: a false breakout
For now, it’s still above the previous high, so let’s see whether scenario ① or ② plays out.