$MAGMA / USDT — Short Sellers Face Pressure Near $0.495
MAGMA registered a short liquidation of $2.6201K at $0.49454. The forced exit of bearish positions may have supported upward momentum, giving buyers a chance to test higher price levels.
However, liquidation-driven moves can fade quickly if fresh demand fails to appear. Traders should watch whether MAGMA holds its ground or experiences renewed selling pressure.
Potential Entry Zone: $0.49200–$0.49700, if support holds.
Upside Targets:
- Target 1: $0.50500
- Target 2: $0.51500
- Extended Target: $0.53000
Stop-Loss: Below $0.48500
Market Bias: Short-Term Bullish, with volatility risk.
A sustained move higher would support further upside, while a breakdown below the protective level could trigger a deeper pullback.
These levels are illustrative estimates, not verified technical levels. Confirm the current chart before trading.
#EarningsSeason
#BinancePick
#BitcoinHashrateHitsSevenMonthHigh
MAGMA registered a short liquidation of $2.6201K at $0.49454. The forced exit of bearish positions may have supported upward momentum, giving buyers a chance to test higher price levels.
However, liquidation-driven moves can fade quickly if fresh demand fails to appear. Traders should watch whether MAGMA holds its ground or experiences renewed selling pressure.
Potential Entry Zone: $0.49200–$0.49700, if support holds.
Upside Targets:
- Target 1: $0.50500
- Target 2: $0.51500
- Extended Target: $0.53000
Stop-Loss: Below $0.48500
Market Bias: Short-Term Bullish, with volatility risk.
A sustained move higher would support further upside, while a breakdown below the protective level could trigger a deeper pullback.
These levels are illustrative estimates, not verified technical levels. Confirm the current chart before trading.
#EarningsSeason
#BinancePick
#BitcoinHashrateHitsSevenMonthHigh