Technical Analysis: MAGIC/USDT
Current Price: $0.3638
Price Change (24h): +4.21%
Overview
has shown a promising upward trend in the last 24 hours, indicating strong momentum in the gaming sector. With a 24-hour high of $0.3713 and a low of $0.3465, traders should closely monitor key support and resistance levels.
Targets 🎯
1. Target 1: $0.3713 (Resistance Level)
Analysis: This level coincides with the recent 24-hour high. A break above this resistance could trigger further bullish sentiment, paving the way for a potential rally.
2. Target 2: $0.3800 (Psychological Resistance)
Analysis: The $0.3800 mark is a significant psychological barrier. If MAGIC can consolidate above $0.3713 and approach this target, it may attract more buyers looking for upward movement.
3. Target 3: $0.4000 (Upper Trendline)
Analysis: The $0.4000 level is a critical target that aligns with the upper trendline. A breakthrough here could signify a strong bullish trend, supported by positive sentiment in the gaming sector.
Conclusion
With current trading volume of 7.45M MAGIC and 2.69M USDT, market activity suggests growing interest. Traders should keep an eye on key support at $0.3447 and evaluate market conditions before entering new positions.
Stay informed and trade wisely on Binance!
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