$MAGIC
/USDT Technical Analysis🔥💯
Trend: Bullish Momentum (Short-Term)
Current price shows a +10.67% gain with significant trading volume, indicating strong buying interest.
Support Level: $0.5891 (key rebound zone)
Resistance Level: $0.6372 (potential breakout level)
Indicators:
RSI (Relative Strength Index): Trending upwards but nearing overbought levels (~70).
Moving Averages: Price is above the 50- and 200-period moving averages, signaling upward momentum.
Trade Signal
Entry Point: Around $0.6150 - $0.6200 on consolidation or pullback.
Stop Loss: Below $0.5890 to manage risk.
🎯 Targets:
1. Target 1: $0.6400 (short-term resistance level)
2. Target 2: $0.6700 (key profit level on further momentum)
3. Target 3: $0.7000 (psychological and extended breakout level)
Momentum: Positive, driven by strong volume and a bullish gaming sector narrative.
Note: Always monitor market conditions and trade with caution.
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