MAGIC/USDT – Quick Overview
MAGIC is showing strong bullish momentum, currently trading at $0.2415, up 22.40% in the last 24 hours. It hit a high of $0.2436 and bounced up from a low of $0.1852.
Technical Indicators:
• EMA 9: $0.2354 and EMA 21: $0.2282 – The shorter EMA is well above the longer one, signaling strong short-term bullish momentum.
• RSI (30): 69.74 – Near the overbought zone, suggesting strength but a potential pullback if it gets too hot.
• Recent Support: $0.1936
• Immediate Resistance: $0.2436
What’s Happening:
After consolidating around $0.19, MAGIC exploded upwards and is now hovering just under its recent high. The sharp rise in both price and volume suggests strong buying interest, possibly news-driven or due to gaming sector hype.
Outlook:
As long as MAGIC holds above the 9 EMA and $0.235 zone, it remains bullish. Watch out for a breakout above $0.2436 for further gains or a pullback if the RSI overheats. Scalpers may find good setups in the volatility if volume stays high.