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MAGICUSDT trade ideas

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.
by MyCryptoParadise
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.
Long
by MyCryptoParadise_Simon
3
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.
Long
by behnoudt
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.
Long
by AlgoBotTrading
🔮💰 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 📊💱
Long
by Richtv_official
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
by Nyskohuz
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.
Long
by Xanrox
7
🔮💰 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 📊💹
Long
by Richtv_official
SHORT #MAGICUSDT Target: $1.0777SHORT #MAGICUSDT from $1.268 stop loss $1.3012 4h TF. The instrument is in a downward correction to the momentum. The second test of the seller's level is at 1.2800. Since the maximum of 1.4331 has not been updated, according to the law of withdrawal of reverse liquidity, the price will tend to go down. To the shopping area of interest. Along the way, we will finalize the local trend line in order to confuse everyone. We will break through and close all the targets. They are shown on the graph as abnormal imbalances. The final goal may come at 1.0777
Short
by CScalp_EN
🚀 MAGICUSDT.P: Bullish Trend (Bullish Harmonic Pattern)Greetings, fellow traders! 🌐 I've identified a promising opportunity on MAGICUSDT.P that demands your attention. The 1-hour chart is revealing a perfect bullish harmonic pattern, accompanied by a bullish divergence. This powerful combination signals a potential uptrend in the making. 🔍 Analysis Overview: - Harmonic Pattern: A meticulous formation of a bullish harmonic pattern indicates a high-probability reversal or continuation. - Divergence: The presence of bullish divergence adds weight to the setup, suggesting underlying strength in the upward momentum. 📉 Entry Point: Consider going long upon confirmation at the specified point to ride the anticipated bullish trend. 💡 Trading Strategy: 1. Confirmation: Wait for a clear confirmation of the bullish move at the identified point. 2. Risk Management: Set stop-loss orders to protect your investment and adhere to a risk-reward ratio that aligns with your trading plan. 3. Target Profits: Establish realistic profit targets based on key resistance levels and market conditions. 🚨 Risk Warning: Trading involves risk, and it's essential to conduct your thorough analysis and risk assessment. 👉 Disclaimer: This idea is for educational purposes only and not financial advice. Always do your research and consult with a financial professional before making trading decisions. 👁‍🗨 Conclusion: Keep a close eye on MAGICUSDT.P as it navigates this potentially bullish scenario. Feel free to share your thoughts and analysis in the comments, fostering a collaborative learning environment. Happy trading! 🌟
Long
by mudusir
2
MAGIC/USDT Break out of resistance level. Bullish Momentum ??💎MAGIC has undeniably garnered significant attention in the market. Currently, it is breaking out of a local resistance level, and there is the potential for a retesting phase, primarily at the support level that was previously a resistance at 1.315. 💎 If the retest proves valid, the price is likely to bounce from this support and continue its upward trajectory. The next significant challenges lie in the bearish OB and supply area. Breaking out of this area would confirm a bullish trend in the mid-term, and the price could probability reach our target zone. 💎 The overall chart pattern appears to be forming a rounding bottom, which is typically considered a bullish pattern. However, if MAGIC fails to bounce when retesting the support, there is a potential for a downward movement, leading to a retest of the bullish trendline. 💎 This level is crucial, and a bounce is required to maintain the bullish stance. Breaking below the bullish trendline would signify a significant trend change, with the next potential support being in the demand area. 💎 The demand area represents the last level of bullish support. A bounce at this level is essential to sustain the bullish momentum. Failure to do so could result in a continuation of the downward movement, eventually reaching the bottom support area.
by MyCryptoParadise