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$MAGIC
📊 Key Price Levels
Today's High: $0.2904
All-Time High (ATH): $6.32 (February 19, 2022)
🔍 Support and Resistance Levels
Immediate Support: $0.51 – This level has been tested and holds ground even as MAGIC corrects. If bulls defend this level, it will allow them to push higher and initiate a breakout at $0.70.
Established Support: $0.30 – This is the established support for the cryptocurrency. Although lying deep below, it could be hit if $0.51 fails to hold. That could push MAGIC back into consolidation and potentially wipe out the gains already made.
Immediate Resistance: $0.70 – A key resistance level that has capped the price action in recent attempts. A successful breakout above this resistance could propel MAGIC towards $0.74 and $0.80, offering substantial upside potential.
📈 Technical Indicators
Relative Strength Index (RSI): 75 – Indicates that MAGIC is overbought, suggesting potential for a short-term correction.
Moving Averages: The 20-day moving average is shifting above the 50-day MA, in line with the bullish momentum. Both moving averages offer MAGIC support.
🧠 Summary
MAGIC is currently exhibiting bullish momentum, with key support at $0.51 and resistance at $0.70. A breakout above $0.70 could lead to further gains, while a drop below $0.51 may result in a deeper correction. Traders should monitor these levels closely and consider technical indicators like RSI and moving averages to inform their strategies.
#MAGIC #Write2Earn #todaysmarket
📊 Key Price Levels
Today's High: $0.2904
All-Time High (ATH): $6.32 (February 19, 2022)
🔍 Support and Resistance Levels
Immediate Support: $0.51 – This level has been tested and holds ground even as MAGIC corrects. If bulls defend this level, it will allow them to push higher and initiate a breakout at $0.70.
Established Support: $0.30 – This is the established support for the cryptocurrency. Although lying deep below, it could be hit if $0.51 fails to hold. That could push MAGIC back into consolidation and potentially wipe out the gains already made.
Immediate Resistance: $0.70 – A key resistance level that has capped the price action in recent attempts. A successful breakout above this resistance could propel MAGIC towards $0.74 and $0.80, offering substantial upside potential.
📈 Technical Indicators
Relative Strength Index (RSI): 75 – Indicates that MAGIC is overbought, suggesting potential for a short-term correction.
Moving Averages: The 20-day moving average is shifting above the 50-day MA, in line with the bullish momentum. Both moving averages offer MAGIC support.
🧠 Summary
MAGIC is currently exhibiting bullish momentum, with key support at $0.51 and resistance at $0.70. A breakout above $0.70 could lead to further gains, while a drop below $0.51 may result in a deeper correction. Traders should monitor these levels closely and consider technical indicators like RSI and moving averages to inform their strategies.
#MAGIC #Write2Earn #todaysmarket
#todaysmarket
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