$MAGMA / USDT – Bearish Positions Get Forced Out
MAGMA experienced a $2.4817K short liquidation at $0.35131. This indicates that leveraged sellers faced pressure as the market moved against their positions. If buyers sustain momentum, further short covering could support a rebound.
Potential Entry Zone: $0.3490–$0.3520
Upside Targets: $0.3550 / $0.3600
Downside Targets: $0.3470 / $0.3420
Protective Stop-Loss: Below $0.3465 for a long setup
Short-Term Bias: Neutral to cautiously bullish
A break above $0.3520 could strengthen the recovery attempt. If price falls back below support, the bullish outlook would weaken.
#EarningsSeason
#BinancePick
MAGMA experienced a $2.4817K short liquidation at $0.35131. This indicates that leveraged sellers faced pressure as the market moved against their positions. If buyers sustain momentum, further short covering could support a rebound.
Potential Entry Zone: $0.3490–$0.3520
Upside Targets: $0.3550 / $0.3600
Downside Targets: $0.3470 / $0.3420
Protective Stop-Loss: Below $0.3465 for a long setup
Short-Term Bias: Neutral to cautiously bullish
A break above $0.3520 could strengthen the recovery attempt. If price falls back below support, the bullish outlook would weaken.
#EarningsSeason
#BinancePick