$MAGIC /USDT TECHNICAL ANALYSIS – MARKET TREND UPDATE
$MAGIC /USDT is showing mild bullish recovery, trading at 0.1433 USDT, up +1.99% in the last 24 hours. Trading volume remains strong at 81.98M MAGIC, indicating solid market participation despite minor consolidation.
The short-term MA(7) at 0.1402 is slightly below the mid-term MA(25) at 0.1443, while both are still under the long-term MA(99) at 0.1594, suggesting the pair is in a slow recovery phase. Price has held above the 0.1290 support level, with 0.1621 as immediate resistance.
Technical indicators signal cautious optimism: MACD hints at potential bullish momentum, while SAR is below the current price, supporting upward movement. Bollinger Bands show the price is gradually approaching the upper band, highlighting buying pressure.
Key levels to watch:
Support: 0.136 – 0.129 USDT
Resistance: 0.162 – 0.168 USDT
Next Target: 0.168 USDT if bullish trend strengthens
In conclusion,
$MAGIC /USDT is gradually recovering, with potential upside if resistance at 0.162 is breached. Traders may consider bullish positions on confirmed breakout, keeping an eye on support at 0.136 for any short-term pullbacks.
Market sentiment: Mildly bullish ✅
Trend: Recovery phase
Volume: Strong
Momentum: Positive but cautious
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