$MAGMA Shows Early Stabilization After Extended Pullback
MAGMA is currently trading near the $0.099 level after a prolonged corrective phase that followed its sharp upside move earlier. The chart reflects a classic post-rally cooling structure, where price has gradually declined from the upper highs and found a temporary base around the $0.087–$0.090 zone. This area has acted as a demand region, with buyers stepping in multiple times to prevent further downside, signaling that selling pressure is slowly weakening.
On the daily timeframe, price is trading below the 25-day moving average, indicating that the broader trend remains cautious. However, the 7-day moving average is beginning to flatten and curl slightly upward, suggesting short-term stabilization. This behavior often appears during accumulation phases, where smart money absorbs supply before a directional move. Volume remains moderate, which supports the idea of consolidation rather than aggressive distribution.
Market structure shows higher lows forming after the recent bottom, hinting at a potential short-term recovery if price can reclaim and hold above the $0.105–$0.110 resistance zone. A clean break above this area could open the door toward the $0.13 region, where previous selling pressure was strong. On the downside, losing the $0.087 support would invalidate the recovery attempt and could push price toward deeper liquidity zones.
Overall, MAGMA appears to be transitioning from a bearish correction into a neutral-to-recovery phase. Traders should closely monitor volume expansion and moving average reactions for confirmation of the next directional move.
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