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MAGIC / TetherUS

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MAGICUSDT trade ideas

MAGIC | Massive Ascending triangle !#MAGIC/USDT - The price is above a very clear trend line that pushed the price up and give us a bullish signal. - but maybe there is a room for a possible pullback before testing the upper resistance line of the triangle or even break the triangle up. 🟢Entry price: from 1.46 to 1.4 🎯Targets: |> 1.57 |> 1.74 |> 1.99 |> 2.16 🔴Stop-loss: Daily candle closes under 1.24 ➡️Recommended risk: 0.25% ➡️Recommended total Positions Size: 1.92% ------------------------------------------- if you missed! here are some of our recent Altcoin trades that are available to enter : APT USDT | Triangle Breakout !! ACAUSDT | ready for a bullish impulse #COCOS/USDT | full details trade! MANA | The breakout of a bullish flag ! FILUSDT | expecting the rally with the top around HKEX:8
Long
by Khaledzu
MAGIC in the Middle of a Strong Bull RunMAGIC is currently experiencing one of the strongest bull runs in the whole market. Let's see why! What is MAGIC? MAGIC is a utility token used as a cross-game currency to connect gaming communities in the Treasure Metaverse, a decentralized NFT ecosystem on Ethereum's Layer 2 scaling solution. It launched in September 2021 and serves as a reserve currency for the metaverse. Players can earn MAGIC tokens through gaming, mining, and participating in Treasure's games, including Bridgeworld, Beacon, and Realm. MAGIC's Crash and Recovery Unfortunately, like many other cryptocurrencies, MAGIC had a terrible year in 2022. It lost almost 97% of its value, which was one of the worst declines in the industry. However, after the November market crash, MAGIC's price began to turn around and slowly started a bull run. From November 2022 until the February 17, 2023, the token gained over 1,000%, which is one of the biggest rallies seen for a top 100 market cap coin. Despite this rally, the coin is still 65% below its all-time high, which was reached in February 2022. MAGIC Respects its Support and Resistance Levels One interesting feature of MAGIC is that it is one of the few altcoins that actually respects its support and resistance levels. Most altcoins go right through their previously established zones. However, MAGIC is different in this regard and is more likely to bounce off them. This means that technical analysis can be more reliable when trading this cryptocurrency. MAGIC's Current Price Action MAGIC has recently bounced off of the $1.00 support and is currently heading toward its current resistance at $2.25. If the price breaks above this level, it will probably head towards the next resistance at $3.50. Bottom Line: While MAGIC experienced a rough year in 2022, it has since shown signs of recovery and is currently in the midst of a significant bull run. Its unique feature of respecting its support and resistance levels may make it an interesting choice for technical traders.
by cryptohopper