【$MAGMA Signal】Long - 1H pullback confirmation, preparing for a second upward push

$MAGMA The 1H timeframe is strongly consolidating above the EMA20 (0.1043), with the price refusing to undergo a deep correction. The 4H timeframe is holding above the EMA50 (0.1025), indicating a shift from a downtrend to an uptrend. Currently, it is a healthy upward continuation pattern, building momentum to challenge the previous high.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1045 - 0.1050 (Reason: 1H EMA20 dynamic support zone, heavy buy orders on the order book )

🛑Stop Loss: 0.1028 (Reason: Break below the key support at 4H EMA50 and the previous 1H candle low )

🚀Target 1: 0.1080 (Reason: Previous high resistance and 4H Fibonacci 0.618 retracement level )

🚀Target 2: 0.1115 (Reason: Strong resistance near the 4H previous high at 0.1119 )

🛡️Trade Management:

- Position Size: Light (Reason: Hot Coin experiences high volatility, control risk per trade )

- Execution Strategy: After the price reaches 0.1080 (Target 1), reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.1045. If the price strongly breaks through 0.1080 and stabilizes, hold the remaining position towards Target 2.

Depth Logic: The price has increased by 9.76% without significant retracement, indicating strong buying support. Open interest (OI) remains stable, with no collapse caused by profit-taking. The 1H RSI (53.49) is in a healthy zone, leaving room for upward movement. Market depth shows buy orders (0.1049) far exceeding sell orders (0.1050), indicating a slight imbalance favorable for upward testing. Combining market logic indicating “price rising,” this appears to be more about main players defending the price or new funds entering, rather than purely short covering.

Trade here 👇 $MAGMA

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