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MAGIC / TetherUS

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MAGICUSDT trade ideas

#Magic 1D chartOMXTSE:MAGIC 1D chart; The first thing that catches our eye is that the price is back to the December 2022 level where it was listed The highest level it has ever seen is 5x It is currently in the bargain zone and it is possible to say that the price is working strongly at the lowest support level of $0.4142 As long as it does not lose this place, there does not seem to be a problem. After the squeeze with the falling trend lines, it is possible to see a sharp upward movement if the market allows. In the short term, $ 1 can be considered as the first target.
Long
by ugurtash
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%
Long
by without_worries
38
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.
by Crypto-Oracle1
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🌴
by MyCryptoParadise
1
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