$MAGIC /USDT Technical Analysis & Trade Signal

Current Price: $0.5253 (+17.07%)

Trend: Strong Bullish Momentum (High buying interest with significant price increase)

Market Overview

24h High: $0.5589

24h Low: $0.4472

24h Volume (MAGIC): 73.10M

24h Volume (USDT): $38.36M

Support & Resistance Levels

Immediate Support: $0.5000 (Psychological level and recent pullback zone)

Strong Support: $0.4472 (24h Low)

Immediate Resistance: $0.5589 (24h High)

Major Resistance: $0.5800 (Key breakout zone)

Trade Signal

Entry Point: $0.5200-$0.5300 (On pullback near immediate support or breakout confirmation)

Targets 🎯:

1. Target 1: $0.5500 (Close to 24h High)

2. Target 2: $0.5750 (Fib extension zone)

3. Target 3: $0.6000 (Psychological resistance and major breakout level)

Stop Loss: $0.4950 (Below psychological support at $0.5000)

Momentum Analysis:

15m Momentum: Bullish (+4.72%)

4h Momentum: Bullish (+2.43%)

Daily Momentum: Strong Bullish (+17.07%, indicating a significant breakout potential)

Trading Strategy:

Short-term traders: Take profits at Target 1 ($0.5500) with tight stop-loss.

Mid-term traders: Trail stop-loss towards Target 2 ($0.5750) for additional gains.

Long-term traders: Hold for Target 3 ($0.6000) if momentum sustains above $0.5500 with volume support.

📊 Risk Management: Manage risk by adjusting position size and adhering to stop-loss levels. Monitor volume closely, as high-volume surges above $0.5500 could push prices higher.

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