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#MAGICUSDT — Trading within the consolidation phase 📊✨
On the daily timeframe, #MAGIC stock is moving within a descending channel/downward wedge, with strong support and resistance levels, resulting in repeated bounces and rejections.
The price is now at the support level. If this pattern continues, there is a strong likelihood of the price rising to retest the resistance level around $1.3 🎯
Momentum indicators:
The Relative Strength Index (RSI) shows bullish divergence ✅
The MACD (MACD) is beginning a golden crossover, approaching the bullish zone 📈
$MAGIC