#CryptoTrading.

📊Technical Analysis (1 hour) $MAGIC /USDT

1. Price and Trend: The current price is 0.2484 USD, down 10.62%. The chart shows a recent decline after a local peak at 0.2970, which may indicate a correction or a change in trend.

2. Bollinger Bands (20, 2): The price is close to the lower limit (0.2425), which may signal oversold. The middle line (0.2485) coincides with the current price, and the upper limit (0.2545) acts as a resistance level.

3. Moving Averages (MA):

• MA(5): 11,638,439.2000 (short-term) above the current price, which may indicate a short-term downtrend.

• MA(10): 11,859,344.5899 (medium-term) is also higher, confirming a potential correction.

4. MACD: DIF (-0.0023) and DEA (-0.0026) are close, with a small positive MACD (0.0002), which may indicate a weak recovery trend, but the signal is not yet strong.

5. Stochastic RSI: The value of 12.8680 (MASTOCHRSI: 8.8346) indicates oversold, which may signal a possible rebound.

6. Volume: The volume peak (7,371,843.4000) coincides with the recent price increase, but the current volume is lower, which may indicate a decrease in investor interest.

⚠️Conclusion: The asset currently looks oversold according to Stochastic RSI and Bollinger Bands, but the trend remains bearish due to the price position below the short-term MA. A rebound to the resistance level of 0.2545 is possible if volumes increase. It is recommended to watch for a breakout of the upper limit of Bollinger Bands or confirmation of a rebound by volumes.