Up 85% in a day, futures volume for $MAGIC has already surpassed 311 million USDT. This is no ordinary move: the price climbed from 0.0666 to a high of 0.1283 before pulling back.
Open Interest also rose from 122 million to 132 million MAGIC over the past few hours. This means new futures positions continue to build amid the price surge. Funding remains slightly positive, with no sign of extreme dominance by long-side fees.
The outlook for $MAGIC remains bullish, but the key thing to watch is whether buying pressure can push the price above the 0.1283 peak.
Open Interest also rose from 122 million to 132 million MAGIC over the past few hours. This means new futures positions continue to build amid the price surge. Funding remains slightly positive, with no sign of extreme dominance by long-side fees.
The outlook for $MAGIC remains bullish, but the key thing to watch is whether buying pressure can push the price above the 0.1283 peak.