$MAGMA 1H Breakdown — Bears Extend Control After Rejection From Local Highs
Short $MAGMA
Entry Zone: 0.1088 – 0.1102
Stop Loss: 0.1121
Targets:
TP1: 0.1062
TP2: 0.1038
TP3: 0.1005
MAGMA has lost momentum after a sharp rejection from the 0.1268 area and is now trading in a clear downside structure on the 1H timeframe. The latest candles show lower highs, strong red impulse candles, and weak bounces, which confirms that sellers are dominating the chart for now.
Why this setup looks strong:
Sharp rejection from the local top
Strong bearish impulse candle sequence
Price failed to reclaim the 0.1115–0.1120 zone
Momentum remains heavy on the downside
Invalidation:
A clean 1H close above 0.1121 would weaken the short setup.
Trade $MAGMA here
#MAGMA #CryptoTrading #BinanceSquare