- The Treasure price is trading over the 200-Day EMA which showcases positive momentum.
- The MAGIC crypto price has declined by 30% in a week.
Decentralization and its supporting platforms are very beneficial to the blockchain industry. Decentralization is not a novel idea in the world of cryptocurrencies, but it is still changing and altering the environment.
Rebranding is taking place on well-known platforms to improve their usability and attractiveness when they link with metaverse projects.
One such platform is Treasure (MAGIC/USDT) which seeks to support real-world applicability and help developers and creators realize their metaverse projects. MAGIC is this platform’s native token in addition to its utility.
Current Price – $0.973 Market cap – $249.12 million
Price Prediction – $0.881 (-7.32% Volume – $41.19 million
Green Days – 11/30 (37%) Fear & Greed Index – 52 (Neutral)
Sentiment – Neutral 200-day EMA – $0.854
Volatility – 7.15% RSI – 43.07
By January 30, 2024, the price of MAGIC is expected to have decreased by 7.32% to $0.881373, based on our current price prediction. The Fear & Greed Index shows 52 (neutral), and our technical indicators indicate that the sentiment is currently neutral. Over the previous 30 days, Magic recorded 11/30 (37%) green days and 7.15% price volatility. This is a favorable moment to purchase MAGIC, according to our price forecast.
Technical Analysis of MAGIC Crypto Price Over 1-Day Time Frame
The MAGIC token price is rising by taking support on the trendline. Every time, the MAGIC price takes support on the trendline and gains a bullish momentum of more than 30% in a week.
MAGIC price has been taking support at the trendline for the last three days. According to the chart structure, the MAGIC price is trying to defend the trendline. If the MAGIC price chart spends some time on the trendline and rises, buyers may show their interest which may result in a buying momentum.
On the other hand, if the Treasure crypto price fails to defend the trendline and slips below the 200-Day moving average, then sellers may dominate and the price may fall to $0.570 in the next few weeks.
MAGIC Token Forecast Based on Technical Analysis
The overall MAGIC price prediction sentiment, based on data from January 25, 2024, is neutral, with 12 technical analysis indicators giving bearish signals and 17 giving bullish signals.
MAGIC Price Prediction FAQs
What is the MAGIC price prediction today?
According to our analysis, the MAGIC price will gain 0.00% to hit $0.969 by today.
What is the MAGIC price prediction tomorrow?
The Treasure crypto price is forecasted to gain 3.65% to reach $1.004 by tomorrow.
What is the current MAGIC price prediction sentiment?
The current Treasure crypto price prediction sentiment is neutral.
What is the MAGIC token price prediction for this week?
According to our analysis, the Treasure price is predicted to react positively. The price may range between $0.944 and $1.064 this week.
Summary
Based on the technical analysis and market trends, the current sentiment for the MAGIC token is neutral. However, the trendline support and the positive momentum of Treasure price over the 200-Day EMA indicate a potential buying opportunity. According to the analysts, the MAGIC price will remain bullish over the 200-Day moving average.
Technical Levels
Resistance: $1.30 & $1.58
Support: $0.95 & $0.57
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.