MAGICUSDT trade ideas
MAGICUSDT UPDATE #MAGICUSDT (Update)
Hey all friends and traders. Hope you are enjoying our analysis. we are here to analyze MAGICUSDT today.
In 1D time frame Falling Wedge Breakout is Done .
Expecting 40-50% Bullish wave📈🚀
MAGIC returns to be madeOn the above daily chart price action has corrected 80%. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Look left. See where price action is now testing for support?
3) The bull flag breakout + back test. The flagpole measures a 300% return.
Is it possible for price action to correct further? Sure.
Is it probable? No.
Ww
Type: Trade
Risk: <6%
Timeframe for long: Hours, yes you read that correct.
Return: 300%
15% correction MAGIC ?The price action around the 0.67 cents level seems to be weakening, indicating a possible break of this support area. This could lead to a correction to the level of 0.57 cents, representing a 15% decline.
And if the downtrend line is broken, this analysis was inconclusive and you can wait for a buy position to enter.
This analysis is based on technical indicators and price patterns and should not be considered as financial advice. Please do your research and consult with a financial advisor before making any investment decisions.
MAGIC/USDT is need to bounce and break the resistance for upward💎 The recent market dynamics surrounding #MAGIC have indeed been quite notable. Presently, MAGIC has bounced from the support level area, but there's a possibility it may undergo another round of testing at the support.
💎 For MAGIC to regain bullish momentum, it needs to successfully bounce and breach the resistance level around $0.95.
💎 Should MAGIC manage to bounce effectively and break above the resistance, it could pave the way for further upward movement, potentially leading to a test of our target strong resistance area.
💎 Conversely, if MAGIC fails to bounce convincingly from the support, it could signal bearish sentiment. In such a scenario, the price may break below support and continue its downward trajectory, potentially reaching lower levels.
MyCryptoParadise
iFeel the success🌴
long MAGICMAGIC broke through the resistance level and the descending trendline. The bullish movement to $1.23 is expected to happen.
MagicUsdt short ideaMagic usdt is tapped on supply and make a quick supply reaction. Now you can take risk at 1.0535. and Target can be 1.0089. Best of Luck
MAGIC/USDT it requires to bounce and break the resistance!💎 Paradisers, #MAGIC has recently undergone notable market dynamics. Currently situated at a critical support area, #MAGIC awaits validation through a bounce, which could set the stage for a breakout above the key resistance level at 1.195.
💎 Breaking above this resistance is pivotal for the next phase of the movement. If #MAGIC successfully breaches the resistance, it could signal further upward momentum, potentially leading to a retest of stronger resistance zones.
💎 However, should #MAGIC fail to break above the resistance, it may retreat to the support area to gather momentum for another attempt.
💎 If #MAGIC breaks below the support area, it would likely confirm a bearish sentiment, especially considering its prior breach of the ascending support trendline. Such a breakdown could lead to sustained downward movement, potentially testing lower support levels.
magicIn the daily time, it is in a strong support zone. In my opinion, it is more suitable to buy in the green points so that it does not break the upper lines.
🚨#MAGIC/USDT LONG#MAGIC
The price has been moving in a bearish flag since last March
That flag was broken higher and the Moving Average 100 was broken
Current price 0.9373
The first goal is 1.06
The second goal is 1.55
MAGIC/USDT bullish momentum from demand ? 👀🚀Magic Analysis💎 Paradisers, it's time to cast our focus on #MAGICUSDT, as it's currently displaying indications of a bullish continuation from its present demand zone.
💎 From our previous observations, #Magic has shown a pattern of making an equal high trajectory followed by a decline. Currently, it's showing an increased likelihood of a bullish move from the demand level at $1.0557. If the price sustains its momentum at this level, we might witness a bullish climb towards the bearish Order Block (OB).
💎 However, as astute traders, we always keep an eye out for alternative scenarios. If #MAGIC fails to hold the demand level at $1.0557, we should be prepared for a potential bullish rebound from a lower demand level at $0.9363. Be aware that breaking below this level could trigger a substantial downward trend.
MAGIC LONG SETUPMAGIC will playout hare after consolidating in huge time bounded rectangle. Target should be around 2.0 and stop-loss should be around 1.2
stay away from high leverage and FOMO.
NFA & DYOR
Magic Stalls at Resistance: Bearish RSI, Potential Retest LoMagic is on the cusp of a critical resistance level at $1.4973. While the price recently established a new high, a potential bearish signal is emerging from the Relative Strength Index (RSI).
Technical Analysis:
Resistance: $1.4973
Support: $1.2646 (Daily: $1.2613, Monthly: $1.0208)
Relative Strength Index (RSI): Bearish Divergence (New price high, lower/same RSI level)
Volume: Recent price test at $1.4973 coincided with decent buying pressure
Key Observations:
The RSI is indicating a bearish divergence. This suggests that the uptrend momentum might be weakening despite the recent price increase.
A significant support level exists at $1.2646 if the price breaks below $1.4973. Additional support levels lie at $1.2613 (daily chart) and $1.0208 (monthly chart).
If the price manages to overcome $1.4973, the next key resistance level on the monthly chart is $1.8231.
Volume Analysis:
The recent price test at $1.4973 was accompanied by decent buying pressure, but the price ultimately faced rejection. This suggests a potential struggle for the bulls to break through this resistance zone.
Conclusion:
The bearish divergence on the RSI, coupled with the price rejection at $1.4973 despite buying pressure, increases the chances of a pullback. Traders should closely monitor the price action around this resistance level. A break above could signal further gains towards $1.8231, while a break below could lead to a decline towards $1.2646 support, with additional support at $1.2613 (daily) and $1.0208 (monthly).
This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.
MAGIC // Bullish Momentum on 15m Timeframe // Potential LONGMAGICUSDT: Bullish Potential on the 15m Timeframe
TP1: 1.3081
TP2: 1.3166
TP3: 1.3660
Technical Analysis Summary:
My technical analysis of MAGICUSDT on the 15-minute timeframe suggests a bullish bias, indicating the potential for price increases.
Supporting Indicators
Mixed Signals with Bullish Lean: While some indicators are neutral, a majority lean towards potential upward movement.
Key Indicators:
Stochastic RSI: Buy signal (60.811)
Ultimate Oscillator: Buy signal (55.316)
Williams %R: Although overbought (-43.038), this can indicate bullish continuation within an uptrend.
Moving Averages (MA): Simple MA5 shows a 'Buy' signal.
Important Considerations
Volatility: ATR indicates high volatility (0.0169). Expect potential price swings.
Mixed Indicators: Some indicators, like the RSI and MACD, show bearish signals. Be mindful of potential pullbacks within the broader uptrend.
MAGIC will fluctuate a lotOn MAGIC, we have a diamond diametric, and it seems that we are now in the F wave of this diametric.
On the green box, it is expected that the F wave will end and we will enter the bullish G wave.
The target is a red box.
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
🔮💰 MAGIC Support and Targets! 📈🎯Current Level: MAGIC is at support, residing at $1.23.
Brief Wick Down: MAGIC briefly wicked down to $1.10.
Targets: The next objectives are set at $1.46 and $1.57.
Confirmation: Aiming for confirmation with a break and hold above $1.36.
📈 Trading Strategy:
Action: Monitor for confirmation above $1.36.
Targets: Consider objectives at $1.46 and $1.57.
Risk Management: Pay attention to support and resistance dynamics.
🌐 Note: Be vigilant for price confirmation and market trends! 🚀🔍 #MAGIC #CryptoAnalysis #SupportTargets 📊💱
MAGIC/USDT | 1W 👀I'll observe and await a correction. We're seeing trading and accumulation on the daily timeframe with volumes and support.
It seems we'll have to wait a bit longer until the RSI fully unwinds. However, the BTC consolidation allows for funds to flow from it to altcoins, which are currently showing more growth.
- Not financial advice, trade with caution.
#Crypto #Treasure #Investment #MAGIC
✅ Stay updated on market news and developments that may influence the price of Treasure. Positive or negative news can significantly impact the cryptocurrency's value.
✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility.
✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking.
#Crypto #Treasure #Investment #MAGIC
MAGIC is starting a strong uptrend, new ATHMAGIC looks very strong in the major timeframe. We can see that the uptrend is very strong and reliable. I am expecting the coin to hit an all-time high in a few weeks and a 288% profit in a few months. It's probably best to buy this coin right now, but you may want to wait for a small pullback. We can see that the previous downtrend ended with a descending parallel channel. It's always important to do an Elliott Wave technical analysis, and from my point of view, we have started this uptrend with a strong impulse wave (12345) and already made an ABC correction. Wave (3) should be in progress.
What Is Magic (MAGIC)?
MAGIC is the utility token that connects gaming communities in the Treasure Metaverse: a decentralized NFT ecosystem which sits on Arbitrum, one of Ethereum’s Layer 2 scaling solutions.
MAGIC is a cross-game currency that connects games, players, metaverses, and communities, all within Web 3.0. The token was launched in September 2021 so its community could buy and sell in-game NFTs on Treasure. It also acts as a reserve currency for Treasure’s metaverse.
Players can earn MAGIC tokens by gaming, mining, and participating in Bridgeworld, Treasure’s flagship game. Treasure now hosts twelve other games on its platform, some of which allow you to use and generate MAGIC tokens like in Bridgeworld. These include Beacon, a free-to-play fantasy action rogue-lite RPG; and Realm, a world-building and exploration game.
🔮💰 MAGIC (MAGIC) - Awaiting a Potential Move Higher! 📈🚀📊 Technical Overview:
MAGIC (MAGIC): Priced at $1.27 on the 12-hour timeframe.
Appears to have retraced to a previous support area.
Next resistance at $1.50.
Stochastic RSI and RSI both indicate a potential reversal and move higher.
📈 Trade Strategy:
Trade Opportunity: Awaiting a potential move higher.
Next Resistance: $1.50.
🚨 Note: Market dynamics may influence outcomes.
Awaiting the magic to unfold! 🔮🚀 #MAGIC #TradeAnalysis #Cryptocurrency 📊💹
