$MAGMA Focus on the bearish direction. Everyone is waiting for a perfect confirmation, but I can see that resistance at this level has already started to reject.

The 4-hour structure remains bearish, maintaining a bearish bias. On the daily timeframe, overall price action is still ranging. Price is clearly being blocked in the 0.29429 to 0.29543 area. The 15-minute RSI is around 38; momentum is neutral, but there may still be room to the downside. Also, the 15-minute trading volume has surged by nearly 4x—real sell-side capital flows have already shown up.

You can watch for an entry around 0.294, and look for a move down in batches toward the 0.290 to 0.283 area. Place your defensive level above 0.300. The outlook can change at any time—everyone be mindful of risk and don’t go too heavy on the chase.