$MAGIC 📉 MAGIC/USDT Market Analysis – Binance (4H Chart)🌊☣️🏆🔥🌍🛩️🧑💻🔑👇
📅 Date: Feb 12, 2025 – 12:21 UTC
💰 Current Price: $0.2359
📊 Volume: 184.96K
⚡ Pattern: Ascending Channel – Potential breakout ahead.
📍 Key Levels🔑🔑🔑🔑👇
🔼 Resistance: $0.2442 | $0.2500 | $0.2600
🔽 Support: $0.2300 | $0.2250 | $0.2200
📊 Technical Indicators
✅ Moving Averages:
Price is testing the lower trendline of the ascending channel.
Breakout above $0.2442 may trigger bullish momentum.
📉 ADX & RSI:
ADX: 19.41 (Weak trend).
RSI: 50.95 (Neutral, slightly bullish).
DMI+: 16.88 vs DMI-: 12.40 (Buyers slightly gaining strength).
📉 Trading Plan
🟢 Bullish Scenario (Long Setup)
📌 Entry: Above $0.2400 (Confirmation of uptrend continuation).
📌 Stop-Loss: Below $0.2300 (Risk control).
📌 Take-Profit: $0.2500 - $0.2600
✅ Confirmation: Volume increase, RSI moving above 55.
🔴 Bearish Scenario (Short Setup)
📌 Entry: Below $0.2300 (Break below ascending channel).
📌 Stop-Loss: Above $0.2400 (Risk control).
📌 Take-Profit: $0.2250 - $0.2200
✅ Confirmation: RSI falling below 45, volume decreasing.
⏳ Trade Duration: 4 Hours – 12 Hours
📢 Conclusion:
📊 Trend: Price is currently in an ascending channel, but a breakout is needed for confirmation.
⚡ Strategy: Watch for a breakout above $0.2400 for a long trade, or a breakdown below $0.2300 for a short setup.
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⚠️ Disclaimer: This is not financial advice. Do your own research before investing.
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