#MAGIC /USDT Bullish Reversal in $MAGIC USDT Accumulation Zone
$MAGIC is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards breaking it. A retest of this boundary is expected.
The Relative Strength Index (RSI) is showing a downward trend, moving in a downtrend and likely to continue due to overbought conditions.
There is a key resistance zone in green at 0.0666. The price has bounced off this zone several times, making it a strong support level.
A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.
Entry Price: 0.0695
Target 1: 0.0708
Target 2: 0.0723
Target 3: 0.0742
Stop Loss: At the resistance zone in green.
Remember this simple thing: Money Management.
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