MAGIC 1D chart;The first thing that catches our eye is that the price is back to the December 2022 level where it was listed
The highest level it has ever seen is 5x
It is currently in the bargain zone and it is possible to say that the price is working strongly at the lowest support level of $0.4142
As long as it does not lose this place, there does not seem to be a problem.
After the squeeze with the falling trend lines, it is possible to see a sharp upward movement if the market allows.
In the short term, $ 1 can be considered as the first target.
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For more you can follow me on X. @UgurTash
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.