Magic Eden looks to have carved out a double bottom around the $2.30-2.40 area.
It is also in a very large falling wedge.
We appear to be breaking out from the downtrend of that falling wedge as we speak.
We need to establish support above the demand zone S/R of $3.26.
From there we would need to attack the $4.00-$5.00 area and establish it as support.
If we can do that, I could maybe see Magic Eden hitting $24.00-$30.00 for the latter part of this bull market.
Thank you, and best of luck in your trading and investing!
It is also in a very large falling wedge.
We appear to be breaking out from the downtrend of that falling wedge as we speak.
We need to establish support above the demand zone S/R of $3.26.
From there we would need to attack the $4.00-$5.00 area and establish it as support.
If we can do that, I could maybe see Magic Eden hitting $24.00-$30.00 for the latter part of this bull market.
Thank you, and best of luck in your trading and investing!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.