$MAGIC Long Liquidation: $8.1028K at $0.45432
A notable long liquidation of $8.1028K occurred at $0.45432, indicating potential downward pressure and market weakness for $MAGIC.
Entry: $0.45432
The liquidation point at $0.45432 is a key level for short positions as $MAGIC shows signs of further downside.
Target: $0.420
The next support level for $MAGIC is at $0.420, offering a potential 7-8% downside from the entry point.
Stop Loss: $0.470
Set a stop loss at $0.470 to manage risk if the market reverses and regains bullish momentum.
Analysis:
The $8.1028K long liquidation at $0.45432 suggests continued selling pressure for $MAGIC. Target $0.420 while protecting against reversals with a stop loss at $0.470.