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MAGIC / TetherUS

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MAGICUSDT trade ideas

MAGIC returns to be madeOn the above daily chart price action has corrected 80%. A number of reasons now exist to be long, including: 1) Price action and RSI resistance breakouts. 2) Support and resistance. Look left. See where price action is now testing for support? 3) The bull flag breakout + back test. The flagpole measures a 300% return. Is it possible for price action to correct further? Sure. Is it probable? No. Ww Type: Trade Risk: <6% Timeframe for long: Hours, yes you read that correct. Return: 300%
Long
by without_worries
38
15% correction MAGIC ?The price action around the 0.67 cents level seems to be weakening, indicating a possible break of this support area. This could lead to a correction to the level of 0.57 cents, representing a 15% decline. And if the downtrend line is broken, this analysis was inconclusive and you can wait for a buy position to enter. This analysis is based on technical indicators and price patterns and should not be considered as financial advice. Please do your research and consult with a financial advisor before making any investment decisions.
by Crypto-Oracle1
MAGIC/USDT is need to bounce and break the resistance for upward💎 The recent market dynamics surrounding #MAGIC have indeed been quite notable. Presently, MAGIC has bounced from the support level area, but there's a possibility it may undergo another round of testing at the support. 💎 For MAGIC to regain bullish momentum, it needs to successfully bounce and breach the resistance level around $0.95. 💎 Should MAGIC manage to bounce effectively and break above the resistance, it could pave the way for further upward movement, potentially leading to a test of our target strong resistance area. 💎 Conversely, if MAGIC fails to bounce convincingly from the support, it could signal bearish sentiment. In such a scenario, the price may break below support and continue its downward trajectory, potentially reaching lower levels. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise
1
MAGIC/USDT it requires to bounce and break the resistance!💎 Paradisers, #MAGIC has recently undergone notable market dynamics. Currently situated at a critical support area, #MAGIC awaits validation through a bounce, which could set the stage for a breakout above the key resistance level at 1.195. 💎 Breaking above this resistance is pivotal for the next phase of the movement. If #MAGIC successfully breaches the resistance, it could signal further upward momentum, potentially leading to a retest of stronger resistance zones. 💎 However, should #MAGIC fail to break above the resistance, it may retreat to the support area to gather momentum for another attempt. 💎 If #MAGIC breaks below the support area, it would likely confirm a bearish sentiment, especially considering its prior breach of the ascending support trendline. Such a breakdown could lead to sustained downward movement, potentially testing lower support levels.
by MyCryptoParadise
MAGIC/USDT bullish momentum from demand ? 👀🚀Magic Analysis💎 Paradisers, it's time to cast our focus on #MAGICUSDT, as it's currently displaying indications of a bullish continuation from its present demand zone. 💎 From our previous observations, #Magic has shown a pattern of making an equal high trajectory followed by a decline. Currently, it's showing an increased likelihood of a bullish move from the demand level at $1.0557. If the price sustains its momentum at this level, we might witness a bullish climb towards the bearish Order Block (OB). 💎 However, as astute traders, we always keep an eye out for alternative scenarios. If #MAGIC fails to hold the demand level at $1.0557, we should be prepared for a potential bullish rebound from a lower demand level at $0.9363. Be aware that breaking below this level could trigger a substantial downward trend.
Long
by MyCryptoParadise_Simon
3
Magic Stalls at Resistance: Bearish RSI, Potential Retest LoMagic is on the cusp of a critical resistance level at $1.4973. While the price recently established a new high, a potential bearish signal is emerging from the Relative Strength Index (RSI). Technical Analysis: Resistance: $1.4973 Support: $1.2646 (Daily: $1.2613, Monthly: $1.0208) Relative Strength Index (RSI): Bearish Divergence (New price high, lower/same RSI level) Volume: Recent price test at $1.4973 coincided with decent buying pressure Key Observations: The RSI is indicating a bearish divergence. This suggests that the uptrend momentum might be weakening despite the recent price increase. A significant support level exists at $1.2646 if the price breaks below $1.4973. Additional support levels lie at $1.2613 (daily chart) and $1.0208 (monthly chart). If the price manages to overcome $1.4973, the next key resistance level on the monthly chart is $1.8231. Volume Analysis: The recent price test at $1.4973 was accompanied by decent buying pressure, but the price ultimately faced rejection. This suggests a potential struggle for the bulls to break through this resistance zone. Conclusion: The bearish divergence on the RSI, coupled with the price rejection at $1.4973 despite buying pressure, increases the chances of a pullback. Traders should closely monitor the price action around this resistance level. A break above could signal further gains towards $1.8231, while a break below could lead to a decline towards $1.2646 support, with additional support at $1.2613 (daily) and $1.0208 (monthly). This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.
Long
by behnoudt
MAGIC // Bullish Momentum on 15m Timeframe // Potential LONGMAGICUSDT: Bullish Potential on the 15m Timeframe TP1: 1.3081 TP2: 1.3166 TP3: 1.3660 Technical Analysis Summary: My technical analysis of MAGICUSDT on the 15-minute timeframe suggests a bullish bias, indicating the potential for price increases. Supporting Indicators Mixed Signals with Bullish Lean: While some indicators are neutral, a majority lean towards potential upward movement. Key Indicators: Stochastic RSI: Buy signal (60.811) Ultimate Oscillator: Buy signal (55.316) Williams %R: Although overbought (-43.038), this can indicate bullish continuation within an uptrend. Moving Averages (MA): Simple MA5 shows a 'Buy' signal. Important Considerations Volatility: ATR indicates high volatility (0.0169). Expect potential price swings. Mixed Indicators: Some indicators, like the RSI and MACD, show bearish signals. Be mindful of potential pullbacks within the broader uptrend.
Long
by AlgoBotTrading