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Magicusdtidea

MAGIC/USDT Break out of resistance level. Bullish Momentum ??💎MAGIC has undeniably garnered significant attention in the market. Currently, it is breaking out of a local resistance level, and there is the potential for a retesting phase, primarily at the support level that was previously a resistance at 1.315. 💎 If the retest proves valid, the price is likely to bounce from this support and continue its upward trajectory. The next significant challenges lie in the bearish OB and supply area. Breaking out of this area would confirm a bullish trend in the mid-term, and the price could probability reach our target zone. 💎 The overall chart pattern appears to be forming a rounding bottom, which is typically considered a bullish pattern. However, if MAGIC fails to bounce when retesting the support, there is a potential for a downward movement, leading to a retest of the bullish trendline. 💎 This level is crucial, and a bounce is required to maintain the bullish stance. Breaking below the bullish trendline would signify a significant trend change, with the next potential support being in the demand area. 💎 The demand area represents the last level of bullish support. A bounce at this level is essential to sustain the bullish momentum. Failure to do so could result in a continuation of the downward movement, eventually reaching the bottom support area.
by MyCryptoParadise
The MAGICUSDT IdeaCRYPTO:MAGICUSD BINANCE:MAGICUSDT Hey traders.. The price is likely to rise to the first resistance zone (red zone), which is near the middle line of the channel. After hitting the middle line and making a few small swings, the price is likely to move up to the top of the channel, which is the second resistance zone (white area). If the price fails to return to the channel and the pullback is not completed, it will move towards the support area shown in yellow. If the price declines, there is a possibility of a period of sideways trading between $0.4830 and $0.4550 on the high-frequency chart. ✅My opinion and suggestion is to enter a long trade above $0.4830 with targets of $0.5200 and $0.5850 after the pullback is completed. ⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices. ✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
Long
by Arash-RK
MAGICUSDT may head up for resistance around 0.8336-0.8520The price is trading in a zone where it experienced free fall on the recent drop a few day ago. The next resistance for the price is 4h resistance 4HR1 as marked on the chart. This resistance zone sits around 0.8336-0.8520. The probability of the price to aim for this 4h resistance is high. Therefore a long is favorable here. However, there is a reasonable probability of the price to revisit the support zone below specially 4h support 4HS1 and probably 4HS2. Therefore, a better entry for the long would be those levels.
Long
by angela_altair
MY BIAS ON MAGICUSDT FOR SHORTMagicusdt 15M TF Analysis , For This TF My Bias Is Short As It Tested 15M Supply Zone And Got Rejected Creating Fair Value Gap And Created Divergence On 5M TF RSI.Break Of Stracture Happened On 5M TF,Before Breaking Grabbed Multiple Liquidity.Support Got Broken And Later Acting As Resistance ,Resistance Acted As Support For A Short Time But Eventually Got Broken.I Am Gonna Focus On Premium Zone For Entry.And There Are Some Liquidity Resting On Upside Thats why I Am Thinking it will go up and take them and tap into my entry. i am gonna have two entry FIRST ENTRY ENTRY - 0.9241 SL - 0.9375 TP- 0.8923 RR - 1:2.37 SECOND ENTRY ENTRY - 0.9294 SL - 0.9400 TP- 0.8923 RR - 1:3.5 MEXC:MAGICUSDT.P
Short
by GunGravE_T
2
MY BIAS ON MAGICUSDT IS SHORTMEXC:MAGICUSDT.P Magicusdt 15M TF Analysis , For This TF My Bias Is Short As It Tested 15M Supply Zone And Got Rejected Creating Fair Value Gap And Created Divergence On 5M TF RSI.Break Of Stracture Happened On 5M TF,Before Breaking Grabbed Multiple Liquidity.Support Got Broken And Later Acting As Resistance ,Resistance Acted As Support For A Short Time But Eventually Got Broken.I Am Gonna Focus On Premium Zone For Entry.And There Are Some Liquidity Resting On Upside Thats why I Am Thinking it will go up and take them and tap into my entry. i am gonna have two entry FIRST ENTRY ENTRY - 0.9241 SL - 0.9375 TP- 0.8923 RR - 1:2.37 SECOND ENTRY ENTRY - 0.9294 SL - 0.9400 TP- 0.8923 RR - 1:3.5
Short
by GunGravE_T