📉 $MAGMA Bearish Setup: Sellers Are Defending the Zone!
⚡ The Trade Setup (Short)
| Parameter | Target Level |
|---|---|
| Entry Zone | 0.101 – 0.105 |
| Stop Loss (SL) | 0.112 |
| Take Profit 1 | 0.095 |
| Take Profit 2 | 0.088 |
| Take Profit 3 | 0.080 |
The recent bounce for $MAGMA just hit a massive wall of resistance. Despite the attempt to push higher, sell pressure spiked immediately upon testing the overhead supply. This confirms that the move was likely a dead cat bounce rather than a true trend reversal.
Momentum is officially rolling over, and with buyers failing to find acceptance above this key zone, the path of least resistance remains firmly to the downside. We are looking for a continuation of the primary bearish trend.
🔍 Market Analysis
* Rejection at Resistance: Sellers are stepping in aggressively every time the price tries to climb.
* Weak Momentum: The RSI and MACD are showing signs of exhaustion on the lower timeframes.
* Corrective Structure: The recent upward move lacks the volume and conviction needed for a breakout, making it a prime candidate for a short entry.
Trade $MAGMA here 👇
