$MAGIC nearly doubled in 24 hours, up 93% to 0.1191 on 20.6 million dollars of volume. Nothing else on the board comes close. KAIA is second at 48%, and the majors moved between 2.6% and 3.5%.
What I find odd is the sentiment reading. BTC is up 2.59% at 82,704, ETH 3.06%, SOL 3.52%, and the Fear & Greed index still fell from 64 to 59. Prices went up and the mood cooled anyway.
For MAGIC, 20.6 million dollars is a lot of turnover for a coin at this price, but it is still a small market next to the 160 million that traded in NEAR. A move this size on that kind of depth can give back half of it quickly once the first buyers take profit.
I am watching two things over the next day. Whether MAGIC volume holds near this level while the price stays above 0.10, and whether the index stops falling while the majors stay green. If both happen, this rally has more people behind it than the sentiment number says.
#TreasureDAO #MarketSentiment
What I find odd is the sentiment reading. BTC is up 2.59% at 82,704, ETH 3.06%, SOL 3.52%, and the Fear & Greed index still fell from 64 to 59. Prices went up and the mood cooled anyway.
For MAGIC, 20.6 million dollars is a lot of turnover for a coin at this price, but it is still a small market next to the 160 million that traded in NEAR. A move this size on that kind of depth can give back half of it quickly once the first buyers take profit.
I am watching two things over the next day. Whether MAGIC volume holds near this level while the price stays above 0.10, and whether the index stops falling while the majors stay green. If both happen, this rally has more people behind it than the sentiment number says.
#TreasureDAO #MarketSentiment