$MAGIC Long Liquidation Alert!

Liquidation Value: $5,758.60

Liquidation Price: $0.52109

A major MAGIC move just turned sour for the bulls!

At $0.52109, a massive $5,758.60 long position was liquidated, signaling a sudden shift in market sentiment.

As longs are wiped out, the market faces a crucial crossroads—will the bears seize control, or is this just a temporary setback?

What This Means:

$MAGIC Long Squeeze: The liquidation of over-leveraged long positions has added selling pressure, potentially weakening the bullish momentum.

Market Uncertainty: A rapid drop after liquidations can lead to heightened volatility, with traders on edge.

Critical Support Test: The price could find support at lower levels, but the bears are circling.

Key Levels to Watch:

Immediate Resistance: $0.55 (Previous highs and key psychological resistance).

Support Zone: $0.48 (Critical support level, a potential safety net for the bulls).

Can $MAGIC recover from this liquidation blow, or will the bears drive prices lower?

The market is volatile, and traders must stay vigilant!

Traders: Keep an eye on the support level at $0.48—it’s do or die for the bulls right now!

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