MAGICUSD Nearing August Resistance, may be last buy opportunity
The Magic token (MAGICUSD) is living up to its name and is rising aggressively within a Channel Up. That pattern was formed after it made a Double Bottom on November 09 2022. It has turned the 1D MA50 (blue trend-line) into Support, which was successfully tested but right now is approaching the first important Resistance of this uptrend, nearing the 1.6100 level (August 10 High).
A pull-back there to re-test the 1D MA50 could be the last buy opportunity before the 3.500 - 4.200 range, which is Resistance 2 (and April 02 High). We can determine price highs when the 1D RSI forms Lower Highs (Bearish Divergence), in contrast to the price's Higher Highs.
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A pull-back there to re-test the 1D MA50 could be the last buy opportunity before the 3.500 - 4.200 range, which is Resistance 2 (and April 02 High). We can determine price highs when the 1D RSI forms Lower Highs (Bearish Divergence), in contrast to the price's Higher Highs.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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