$MAGMA Market Structure
MAGMA is showing a strong bullish structure after an impulsive upward move.
Price is trading above all major short-term MAs confirming buyer control.
RSI(6) at 66.5 indicates bullish momentum, but nearing overbought—some pullback is possible.
MACD is positive (DIF > DEA) → momentum remains intact.
Key Levels
Support: 0.1065 – 0.1085
Resistance: 0.1125 – 0.1140
Trade Setup
Entry Zone
Buy on Pullback: 0.1065 – 0.1085
Buy on Breakout: Above 0.1140 with strong volume confirmation
Take Profit Targets
TP1: 0.1125
TP2: 0.1140
TP3: 0.1170
Stop Loss: Below 0.1050
Bias Summary
Overall Bias: Bullish continuation
Preferred trade: Buy the dip toward support rather than chasing highs
Caution: RSI approaching overbought → monitor 1H/15m candles for exhaustion
MAGMAUSDT
Perp
0.10232
-3.45%