$MAGMA 32% breakout with bullish structure, but price is cooling after the 0.2710 high
My bias is bullish on the 1h — price remains above the 0.24980 AVL and bullish Supertrend at 0.21868, while SAR at 0.22764 continues to support the uptrend
The breakout from the 0.20 area came with strong momentum and 63.45M USDT volume, but the rejection from 0.2710 shows sellers are defending the local high
RSI(6) around 65.9 has cooled from the overbought zone, which gives the move room to continue if buyers defend support
Key pullback zone: 0.245–0.238, with stronger structural support around 0.227–0.219
A reclaim and 1h close above 0.2565 could open the path toward 0.2710 and potentially 0.2750
If 0.2376 fails on a strong 1h close, I would expect a deeper retracement before considering continuation
The trend is bullish, but I would prefer a confirmed pullback and reclaim rather than chasing the breakout.
#MAGMA #CryptoTrading #Binance #Altcoins #CryptoAnalysis $MAGMA
My bias is bullish on the 1h — price remains above the 0.24980 AVL and bullish Supertrend at 0.21868, while SAR at 0.22764 continues to support the uptrend
The breakout from the 0.20 area came with strong momentum and 63.45M USDT volume, but the rejection from 0.2710 shows sellers are defending the local high
RSI(6) around 65.9 has cooled from the overbought zone, which gives the move room to continue if buyers defend support
Key pullback zone: 0.245–0.238, with stronger structural support around 0.227–0.219
A reclaim and 1h close above 0.2565 could open the path toward 0.2710 and potentially 0.2750
If 0.2376 fails on a strong 1h close, I would expect a deeper retracement before considering continuation
The trend is bullish, but I would prefer a confirmed pullback and reclaim rather than chasing the breakout.
#MAGMA #CryptoTrading #Binance #Altcoins #CryptoAnalysis $MAGMA