$MAGIC Short Liquidation Alert
A $1,625.70 short position on $MAGIC was liquidated at $0.544, signaling a surge in bullish momentum as sellers are forced to exit.
This could indicate a breakout or increased buying pressure, making this a pivotal moment for MAGIC traders.
Key Details:
Liquidation Amount: $1,625.70
Liquidation Price: $0.544
Market Sentiment: Bullish pressure is intensifying, squeezing shorts out of the market.
Suggested Next Move:
For Bulls: Leverage the momentum by targeting the next resistance zone near $0.56–$0.58.
Set tight stop-losses below $0.54 to protect against sudden reversals.
For Bears: Wait for rejection near $0.56 or $0.58.
A failure to break higher with declining volume could offer a re-entry opportunity for short positions.
Neutral Traders: Observe the $0.54–$0.56 range for confirmation.
A strong breakout above $0.56 could signal a sustained rally, while a drop below $0.53 might reverse the trend.$MAGIC
Liquidations often create volatile price swings, so monitor key levels closely and trade with caution!