$MAGIC IS OVEREXTENDED AFTER A SHARP PUMP — SHORT ZONE ACTIVE 🎯
Entry: $0.0508 - $0.0515 🔥
Target: $0.0490 🚀
Stop Loss: $0.0538 ⚠️
The recent surge pushed $MAGIC into the $0.051 area, a level that saw significant selling last week. Volume is already tapering off on the hourly chart, suggesting momentum exhaustion. A sweep of this resistance zone could attract sellers looking to fade the move.
If the entry zone holds as resistance, the first target offers a clean 1:3 R:R. Are you fading this pump or waiting for a retest of support?
Not financial advice. Always manage your risk.
#MAGIC #ShortSetup #Overextended #Pullback
🎯
Entry: $0.0508 - $0.0515 🔥
Target: $0.0490 🚀
Stop Loss: $0.0538 ⚠️
The recent surge pushed $MAGIC into the $0.051 area, a level that saw significant selling last week. Volume is already tapering off on the hourly chart, suggesting momentum exhaustion. A sweep of this resistance zone could attract sellers looking to fade the move.
If the entry zone holds as resistance, the first target offers a clean 1:3 R:R. Are you fading this pump or waiting for a retest of support?
Not financial advice. Always manage your risk.
#MAGIC #ShortSetup #Overextended #Pullback
🎯