đ $MAGIC SHORTS ARE UNDER PRESSURE
$MAGIC is up 38.4%, while funding sits at -0.448. That suggests short positions are paying to stay in the trade, creating the potential for further short-squeeze pressure if price keeps pushing higher.
đŻ Key level: $0.1003
â ïž If the breakout base fails, $0.078 is the next level to watch.
My take: Momentum is strong, and negative funding could fuel another leg up if buyers stay in control. But if support breaks, the move could reverse quickly.
Watch the price action â a squeeze is possible, not guaranteed. đ
$MAGIC is up 38.4%, while funding sits at -0.448. That suggests short positions are paying to stay in the trade, creating the potential for further short-squeeze pressure if price keeps pushing higher.
đŻ Key level: $0.1003
â ïž If the breakout base fails, $0.078 is the next level to watch.
My take: Momentum is strong, and negative funding could fuel another leg up if buyers stay in control. But if support breaks, the move could reverse quickly.
Watch the price action â a squeeze is possible, not guaranteed. đ