$MAGIC

/USDT Trade Strategy: Downtrend with Potential Rebound 🎯

Current Price: 0.5230 USDT (-19.48%)

24h High: 0.6535 USDT

24h Low: 0.5087 USDT

24h Volume: 30.31M MAGIC (17.24M USDT)

Support & Resistance Levels:

Support: 0.5100 USDT (near 24h low)

Resistance: 0.6100 USDT (recent breakdown level)

Technical Indicators:

Trend: Strong downward pressure with nearly 20% loss in 24h.

Depth: Selling dominates; slight buying activity near 0.5100 support.

Momentum: Potential for short-term bounce if 0.5100 support holds.

Trade Strategy 🎯

Bullish Setup (Long):

Entry: 0.5150 – 0.5250 USDT (buy near support)

Stop Loss: 0.5000 USDT (below support)

Targets:

🎯 0.5600 USDT (minor resistance)

🎯 0.6100 USDT (key resistance level)

Bearish Setup (Short):

Entry: 0.5900 – 0.6100 USDT (sell near resistance on rejection)

Stop Loss: 0.6200 USDT (above resistance)

Targets:

🎯 0.5400 USDT (support zone)

🎯 0.5100 USDT (24h low)

Risk Management:

Volatility: High; use tight stop losses.

Confirmation: Watch for volume spikes and MACD crossover to gauge reversal potential.

Profit-Taking: Scale out of trades near targets to secure gains.

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