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Magic

MAGIC in the Middle of a Strong Bull RunMAGIC is currently experiencing one of the strongest bull runs in the whole market. Let's see why! What is MAGIC? MAGIC is a utility token used as a cross-game currency to connect gaming communities in the Treasure Metaverse, a decentralized NFT ecosystem on Ethereum's Layer 2 scaling solution. It launched in September 2021 and serves as a reserve currency for the metaverse. Players can earn MAGIC tokens through gaming, mining, and participating in Treasure's games, including Bridgeworld, Beacon, and Realm. MAGIC's Crash and Recovery Unfortunately, like many other cryptocurrencies, MAGIC had a terrible year in 2022. It lost almost 97% of its value, which was one of the worst declines in the industry. However, after the November market crash, MAGIC's price began to turn around and slowly started a bull run. From November 2022 until the February 17, 2023, the token gained over 1,000%, which is one of the biggest rallies seen for a top 100 market cap coin. Despite this rally, the coin is still 65% below its all-time high, which was reached in February 2022. MAGIC Respects its Support and Resistance Levels One interesting feature of MAGIC is that it is one of the few altcoins that actually respects its support and resistance levels. Most altcoins go right through their previously established zones. However, MAGIC is different in this regard and is more likely to bounce off them. This means that technical analysis can be more reliable when trading this cryptocurrency. MAGIC's Current Price Action MAGIC has recently bounced off of the $1.00 support and is currently heading toward its current resistance at $2.25. If the price breaks above this level, it will probably head towards the next resistance at $3.50. Bottom Line: While MAGIC experienced a rough year in 2022, it has since shown signs of recovery and is currently in the midst of a significant bull run. Its unique feature of respecting its support and resistance levels may make it an interesting choice for technical traders.
by cryptohopper
How to make money on Arbitrum?Arbitrum is one of the most anticipated and discussed projects of 2022 and 2023. The Arbitrum network is already fully launched and many users are waiting for the release of the network's native token. In addition, the Arbitrum ecosystem is actively growing and developing, with many projects appearing literally out of nowhere, capturing the market and attracting huge liquidity. But the main question for all traders is how can we make money on it? How to make money? All projects on Arbitrum, including Arbitrum itself, will have their own native tokens sooner or later. The more popular Arbitrum is, the higher the potential value of the Arbitrum native token and native tokens of projects that are built in the Arbitrum ecosystem is. This is the most important thing for us. The main task of a trader is to find the most promising projects on Arbitrum, keep track of when the token appears and look for profitable trading opportunities. Considering that our reader already has a trading strategy and knows how to trade, our goal is to tell you about the most interesting projects that you can make money on. Prospective projects with a token 1. $GMX – a decentralized futures exchange 2. $GNS – margin trading 3. $DPX – on-chain options 4. $MAGIC – a gaming ecosystem 5. $VELA – a decentralized futures exchange 6. $RDNT – an omnichannel credit protocol 7. $MVX – margin trading 8. $GRAIL – a decentralized exchange 9. $PLS – a liquidity market 10. $VESTA – a loan protocol 11. $PREMIA – on-chain options What to do next? Search for good trading opportunities Look for promising new projects on Arbitrum Stay tuned for news on the launch of the Arbitrum native token Check our ideas about ZK Narrative and Asset tokenization trend Tell us what do you think about Arbitrum in a comments section Additionaly, write down in the comments section what narrative are you interested in the most: ZK, Asset tokenization or Arbitrum. We will prepare more detailed info about it for you! Thanks
by Samura0x
8
MAGICUSDT 4HMAGIC went through an accumulation period, ranging between 0.03714 and 0.04768 and soon started Elliot wave 1, formed 2 , 3 and is heading to finish wave 4 to explode to 5. I'm watching MAGIC hold above the 200-day moving average. Which is $0.04310. This is a critical level, that is, a powerful support that we cannot leave unnoticed. Here are the supports and resistances in the 4H: Main support levels : 0.05379 /0.04768 / 0.04310 Main Resistance Levels :0.05884 / 0.06289 MM200: At the height of 0.04310 MAGIC is the currency of the Treasure ecosystem that serves as money between the metaverses within the common economic layer, it was designed to be increasingly scarce as it weaves an ever-growing web of narrative bridges within the Treasure metaverse ecosystem.
by ferulianov
MAGICUSD Nearing August Resistance, may be last buy opportunityThe Magic token (MAGICUSD) is living up to its name and is rising aggressively within a Channel Up. That pattern was formed after it made a Double Bottom on November 09 2022. It has turned the 1D MA50 (blue trend-line) into Support, which was successfully tested but right now is approaching the first important Resistance of this uptrend, nearing the 1.6100 level (August 10 High). A pull-back there to re-test the 1D MA50 could be the last buy opportunity before the 3.500 - 4.200 range, which is Resistance 2 (and April 02 High). We can determine price highs when the 1D RSI forms Lower Highs (Bearish Divergence), in contrast to the price's Higher Highs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MAGICUSD
by TradingShot
4