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$MAGMA is now showing parabolic momentum and signs of exhaustion 📉
Short $MAGMA
Entry: $0.260 – $0.28
SL: $0.295
TP1: $0.240
TP2: $0.225
TP3: $0.195
TP4: $0.150
Why:
MAGMA has surged over 60%, forming a near-vertical rally on the 4H timeframe. The RSI is above 95, indicating extremely overbought conditions and a high probability of a pullback. Price is also facing resistance near the $0.274 level, where rejection wicks are visible. Declining momentum and extended distance from key moving averages suggest a cooling phase and potential correction.
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Trade $MAGMA here 👇
{future}(MAGMAUSDT)