$MAGIC Long Liquidation Alert.

Liquidation Amount: $1.4734K

Price Triggered at: $0.6003

The crypto market is never short on excitement, and today we witnessed another intense liquidation event for $MAGIC. Over $1.4K worth of long positions were liquidated when the price hit the $0.6005 level. This kind of price action is a reminder of the volatility that defines the world of cryptocurrencies.

What Happened.

As the price of $MAGIC dropped to $0.6005, the market triggered liquidations on long positions, resulting in a massive squeeze.

Traders who were overly bullish got caught as the price moved swiftly in the opposite direction, wiping out positions that had been holding on for higher price levels.

Key Details:

Liquidation Amount: $1.4734K

Price: $0.6005

Position Type: Long

Market Impact: Short-term dip, possible buying opportunity depending on the broader trend.

What to Watch For.

Will $MAGIC find support and start a recovery, or is this a sign of further downside potential? Traders will be watching for any signs of price reversal at key support levels.

For those considering entering $MAGIC, look for solid support zones or price action patterns signaling a reversal before taking any action.

Pro Tip: Liquidations are part of the game, but it’s essential to understand risk management and avoid getting caught in the chaos of quick price swings. Always have your stop-loss and target in mind.

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