#MAGIC/USDT : What happen next????
๐ Intraday Snapshot
Current Price: ~$0.2095
24โฏh Price Range: $0.1180 โ $0.2181
Volume: ~$530Mโ$580M across exchanges
๐ Technical Analysis
1. TradingView Summary
Overall Rating: Buy on short-term indicators
One-Week Trend: Neutral
One-Month Trend: Sell
2. Investing.com Indicators
Strong buy signals across most timeframes (5โฏmin to daily); neutral weekly to monthly
On-daily: 12 buy vsโฏ0 sell signals on moving averages; 8 buy vsโฏ0 sell on other indicators
RSI at 84 (overbought), MACD positive, ADX strong โ indicating bullish but potentially overheated short-term
3. Support & Resistance Levels
Support zones: $0.15โ0.16 (former resistance turned support)
Immediate resistance: $0.22โ0.23 (yesterdayโs high ~$0.218)
If the rally continues, next targets are $0.30+, though a pullback is likely first
๐ Price Forecasts
From models like CoinCodex and CoinLore:
CoinCodex suggests a potential 25% drop to $0.13โ$0.14 by early August
CoinLore sees a drop to ~$0.16 in 10 days, then down to ~$0.13 by July 21
Longer-term predictions vary widelyโfrom mid-$0.20s to as high as $2โ$3 depending on bullish models .
๐ Recent Movement & Key Drivers
Massive rally: +75โ85% in 24โฏh, fueled by breakout from downโchannel and high trading activity
Volume surge: Over half a billion USD worth of MAGIC tradedโindicating significant speculator interest
Overbought signals: RSI and shortโterm peaks
๐ฎ Outlook & Strategy
๐ Short-Term (Next 1โ2 weeks)
Likely to pull back toward $0.16โ$0.17 (50โ200โฏSMA cluster)
A bounce in this zone could reset momentum for a move toward $0.22โ$0.23
๐ Medium-Term (1โ3 months)
If support holds, next range: $0.20โ$0.30
If $0.16 breaks decisively, deeper retracement to $0.12โ$0.14
๐ Longer-Term (6+ months)
Bullish models predict $0.25 to $0.40+, others are more modest
Much will depend on broader crypto market sentiment and on-chain development