$MAGIC Faces a Brutal Rejection 📉
Short $MAGIC
Entry: 0.110 – 0.130
SL: 0.1660
TP1: 0.1000
TP2: 0.0930
TP3: 0.0850
TP4: 0.0770
Why:
$MAGIC has exploded nearly 130% from its recent low around 0.0736, hitting a high of 0.16369 before facing a sharp rejection. Price is now trading near 0.10677, with a massive bearish candle showing aggressive profit-taking after the parabolic rally. MA7 at 0.10647 is providing immediate support, while MA25 at 0.07693 and MA99 at 0.06013 remain much lower, reflecting the strength of the broader uptrend. If price loses 0.1000 and fails to recover, further downside toward 0.0930 and 0.0850 could follow. A bounce back above 0.1190 may invalidate the immediate bearish momentum, while a break above 0.16369 would invalidate this setup. Avoid chasing the move; wait for confirmation and manage risk carefully.
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#Altcoin Season#
Short $MAGIC
Entry: 0.110 – 0.130
SL: 0.1660
TP1: 0.1000
TP2: 0.0930
TP3: 0.0850
TP4: 0.0770
Why:
$MAGIC has exploded nearly 130% from its recent low around 0.0736, hitting a high of 0.16369 before facing a sharp rejection. Price is now trading near 0.10677, with a massive bearish candle showing aggressive profit-taking after the parabolic rally. MA7 at 0.10647 is providing immediate support, while MA25 at 0.07693 and MA99 at 0.06013 remain much lower, reflecting the strength of the broader uptrend. If price loses 0.1000 and fails to recover, further downside toward 0.0930 and 0.0850 could follow. A bounce back above 0.1190 may invalidate the immediate bearish momentum, while a break above 0.16369 would invalidate this setup. Avoid chasing the move; wait for confirmation and manage risk carefully.
📩DM ME ON X TO KNOW HOW TO JOIN MY PREMIUM FOR HIGHLY PROFITABLE TRADE SETUPS LIKE THIS
#Altcoin Season#