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MAGICUSDT trade ideas

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
MAGICUSDT - BULLISH OUTLOOKMAGICUSDT is currently exhibiting a pattern of lower lows and lower highs, indicating a downtrend. However, there is a notable bullish divergence on the 1-hour (1H) time frame, suggesting a potential reversal in the prevailing trend. Here's a concise technical analysis with a suggested trading strategy: Entry: Consider initiating a long position by placing a buy-stop order at 1.1150. Stop Loss (SL): Implement a risk management stop loss at 1.00 to mitigate potential losses. Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio: TP1 = 1.23 TP2 = 1.3450 This trading strategy aims to capitalize on the anticipated bullish reversal signaled by the observed divergence. As with any trading approach, it's essential to monitor the market closely for changing conditions and adjust the strategy accordingly.
Long
by sunnytrader07
MAGIC ANALYZE 2H BUY Dear Traders, I hope you're doing well. Happy New Year! This is my first post in the new year, and I hope it proves useful to you. In Magic Currency, on the two-hour time frame, the price has broken the ascending channel and consolidated its support level. If the price can close above the black line with good strength, it can first reach the yellow level and then move up to the blue level. Based on your analytical style, you can find your entry point. Thank you for your kindness and for following me. Best regards,
Long
by jawad369