$MAGIC /USDT Technical Analysis – 1D Chart Overview

Current Price: $0.1533

24h Change: +6.16%

24h High/Low: $0.1802 / $0.1418

24h Volume: MAGIC: 195.76M | USDT: 31.27M

🔍 Trend Analysis

Short-Term Trend: Bullish recovery – +6.16% gain shows upward momentum.

Support Zone: ~$0.1410–$0.1450 (recent low, previous demand zone).

Resistance Zone: ~$0.1800–$0.1900 (near recent high and psychological resistance).

📊 Indicators

Volume: Rising volume supports the bullish bounce.

SMA Levels:

Likely testing or reclaiming the 7-day SMA, indicating short-term bullish sentiment.

Need to cross above the 30-day SMA (~$0.1600–$0.1650 range) for sustained uptrend confirmation.

🧠 Key Observations

MAGIC bounced from $0.1418 and tested $0.1800, showing strong short-term bullish pressure.

Current retracement to $0.1532 is healthy; looks like a bullish flag or consolidation phase.

Sustained close above $0.1600 could open room to retest $0.1800, then possibly $0.1900.

However, if it breaks below $0.1450, bears may retarget $0.1300 zone.

📌 Trade Setup

Direction Entry Targets Stop Loss

Long $0.1500–0.1530 $0.1650 → $0.1800 → $0.1900 Below $0.1450

Short Below $0.1450 $0.1400 → $0.1300 Above $0.1530

⚠️ Risk Notes:

High volatility zone – use tight stop losses.

Watch Bitcoin's price action for correlation impacts.

Would you like a lower timeframe (4H/1H) analysis or indicators overlay chart for MAGIC/USDT next?

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