$MAGIC Long Liquidation: $1.4734K at $0.6005
MAGIC just saw a significant long liquidation of $1.4734K at $0.6005.
This could trigger some price action as the market reacts to the liquidation event.
Key Details:
Long liquidation: $1.4734K
Price at liquidation: $0.6005
Next Move:
Expect some potential volatility as liquidations can cause sharp price moves.
If the price drops, it might find support at key levels before a possible rebound.
A bounce off support could offer a good buying opportunity.
Support & Resistance:
Support: $0.55 (This level could hold if the price declines further.)
Resistance: $0.65 (Watch for potential selling pressure if the price reaches this point.)
Buy or Sell?
If $MAGIC pulls back to support, consider buying for a possible bounce.
If it struggles at resistance, think about selling or waiting for a clearer trend to emerge.
Always manage risk carefully in these volatile markets.