$MAGMA Technical Analysis (5m) – SMC Bullish Shift? 🚀
MAGMA is showing interesting price action on the 5-minute chart right now!
Key Technical Observations:
CHoCH Confirmed: Price snapped back strong from the 0.2390 - 0.2400 USDT support zone, breaking recent swing highs and confirming a bullish Change of Character (CHoCH).
Liquidity Sweep: Reached 0.2435 USDT, sweeping upper liquidity before facing a minor rejection at the 0.2424 - 0.2426 USDT resistance level.
Current Zone: Holding support around 0.2413 - 0.2415 USDT.
What's Next?
Bullish Scenario: If MAGMA holds the 0.2413 USDT OB support, we could see another retest towards 0.2426 and 0.2435 USDT.
Bearish Pullback: A breakdown below 0.2410 USDT might trigger a retracement back into the 0.2400 USDT FVG zone.
What are your thoughts on MAGMA? Are you going Long or Short here? Drop your strategy below! 👇
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$MAGMA