$MAGIC USDT (Treasure) has experienced a massive bullish breakout, surging nearly 78% on October 9 and reaching approximately 0.1184 USDT. ๐
Trading volume increased sharply +320% โ indicating strong buying interest, but extreme volatility raises the risk of a short-term pullback.
๐ TREND: Strongly bullish, but overheated ๐ด Resistance: 0.1280 - 0.1350 ๐ข Support: 0.1000, followed by 0.0850
๐ Bullish scenario: Holding above 0.1000 could support another upward move to 0.1280-0.1350 ๐ป Bearish scenario: Losing 0.1000 may trigger profit-taking toward 0.0850
โ ๏ธ Conclusion: MAGIC has strong upward momentum, but avoid chasing a sudden pump. Wait for consolidation or a confirmed retest before considering an entry.
DYOR - These levels are indicative, not guaranteed.
WHY IT HAPPENED? ๐ 1. US Govt moved $470M BTC to Coinbase - Selling FUD 2. 10Y Yield 5.34% Highest since 2002! Tech bleeding $NVDA $AMD
3. Spot ETF $168.6M outflow yesterday
MY TAKE: Liquidity Sweep Done โ Bullish Hammer at $83,356 low as per chart - $83,880 close. Support $82K-$83K MUST HOLD, else $80K next. Resistance $84.5K-$85K.