Big Move on $MAGIC !
Long Liquidation Alert:
A $3,857.2K liquidation just hit the market at $0.44918.
The sell pressure is building, and this could spark volatility across the board.
Key Details to Watch:
1. Price Breakdown: The $0.44918 level is crucial. Breaking below it could lead to further declines.
2. Volume Surge: Liquidations of this size often trigger cascading effects. Watch for increased sell pressure if the support breaks.
3. Market Sentiment: The heavy liquidation suggests bullish confidence may be waning.
What’s Next?
Traders Holding Longs: Tighten stop-losses. If the $0.449 level fails, the next significant support lies around $0.42.
Shorters: Look for entry opportunities below $0.449, but don’t get greedy—ensure to lock profits early if a bounce occurs.
Neutral Traders: Stay on the sidelines until the dust settles, or look for a bounce-back opportunity above $0.46.
Pro Tip: Watch for whale activity. Large liquidations like this can signal upcoming market manipulation or trend reversals.
Stay vigilant.
What’s your next move? Are you ready to ride the wave or play it safe?$MAGIC