Yesterday at 12:37, when I called long $MAGMA , the price was 0.375, with a target of 0.42. It’s now at 0.436, having just hit a new high of 0.4394. The target has already been reached, and we even caught an extra leg 🚀
Let’s review why I was confident holding:
1️⃣ Yesterday afternoon’s big bullish candle on heavy volume pushed straight through 0.38–0.42. After that, every pullback was caught above 0.41.
2️⃣ Open interest rose from around 7.9 million U to 9.6 million U over 24 hours. Price and open interest climbed together—real money was adding positions, not just pushing the price up on its own.
3️⃣ The funding rate at +0.024% is quite mild, and the long/short account ratio is 1.08—not a one-sided frenzy.
My view now: the trend is still leaning bullish, but don’t chase. The original 0.42 target is now a support level. If it pulls back to 0.42 and holds, you can keep holding; if it breaks below, get out first—don’t let greed eat into your profits. Next, let’s see whether it can hold above the 0.44 round-number level.
At 0.44, are you chasing, or waiting for a pullback to 0.42 before getting in?
#MAGMA #山寨币 #合约交易 #Market Recap
Let’s review why I was confident holding:
1️⃣ Yesterday afternoon’s big bullish candle on heavy volume pushed straight through 0.38–0.42. After that, every pullback was caught above 0.41.
2️⃣ Open interest rose from around 7.9 million U to 9.6 million U over 24 hours. Price and open interest climbed together—real money was adding positions, not just pushing the price up on its own.
3️⃣ The funding rate at +0.024% is quite mild, and the long/short account ratio is 1.08—not a one-sided frenzy.
My view now: the trend is still leaning bullish, but don’t chase. The original 0.42 target is now a support level. If it pulls back to 0.42 and holds, you can keep holding; if it breaks below, get out first—don’t let greed eat into your profits. Next, let’s see whether it can hold above the 0.44 round-number level.
At 0.44, are you chasing, or waiting for a pullback to 0.42 before getting in?
#MAGMA #山寨币 #合约交易 #Market Recap
