$MAGIC Long Liquidation Alert.

Liquidation Amount: $4.66K

Liquidation Price: $0.5170

The crypto markets just witnessed a shake-up as $MAGIC long positions worth $4,661.8 were liquidated at a critical price of $0.51878. This liquidation reflects bearish pressure pushing the token below key support levels, forcing leveraged long traders out of their positions.

What Does This Mean.

1️⃣ Market Sentiment: A long liquidation usually indicates a lack of buyer strength or increased selling pressure, signaling possible bearish momentum.

2️⃣ Support Breakdown: The price breaching $0.51878 might have triggered stop-losses and liquidations, causing further downward pressure.

3️⃣ Opportunity or Risk?: The event could lead to more volatility. Traders should stay alert for potential breakdowns or reversal patterns.

Key Levels to Watch.

Immediate Resistance: $0.53 - If $MAGIC recovers, this level could act as resistance.

Support Zone: $0.500 - $0.515 - Holding this range could be critical for a rebound.

Trading Strategy Suggestions.

For those looking to trade $MAGIC:

Potential Buy Zone: $0.500 - $0.515 for a low-risk entry.

Targets: $0.535 (short-term), $0.550 (medium-term).

Stop-Loss: Below $0.495 to minimize risks.

Pro Tip:

Use proper risk management! Keep an eye on broader market trends and Bitcoin’s price action, as they heavily influence altcoin movements.

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