MAGIC Price Prediction: How Long Will it Sustain on the Uptrend?

• The trading volume of Treasure has increased by 40% in the last 24 hours.
• MAGIC crypto price is trading at $1.28 with an intraday gain of 2.53%.

The Treasure (MAGIC) price has performed negatively throughout 2023 and has dropped by 81% from an all-time high. The price recorded an all-time low of $0.4142 on October 19, 2023. Since October 2023, the MAGIC price has witnessed a bullish trend and rising by taking support on the trendline.

Current Price – $1.28 Fear & Greed Index – 80 (Extreme Greed)

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Market cap – $335.05 million Green Days – 14/30 (47%)

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Volume – $124.52 million Price Prediction – $1.44 (13.76%)

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Sentiment – Bullish RSI – $0.98

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Volatility – 3.74% 200-day EMA – 52.20

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Based on our technical analysis, the Treasure crypto price is predicted to perform positively and gain 13.76% to reach $1.44 by March 07, 2024. The MAGIC price has remained bullish for 14 days in the last 30 days. The fear and greed index reads 80 (Extreme greed) and the volatility is 3.74%.

The market capitalization is $335.05 Million and the trending volume is $124.52 Million which has increased by approximately 40% in the last 24 hours. The circulating supply of Treasure is 260,251,894 MAGIC and the total supply is 347,714,007 MAGIC.

Treasure Crypto Price Has Been Rising Along a Trendline; How Far Will it Go?

MAGIC has been in a bullish trend for a few months and is taking support on the trendline. Recently, the Treasure price took support on the trendline and is up by 13.16% in just a few days.

According to the technical analysis, the Treasure crypto price momentum is being led by the buyers and is expected to approach the $1.50 hurdle soon. If the price rises and faces resistance from the $1.50 then it may melt to the trendline again.

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On the other hand, if the Treasure price fails to defend the trendline then it may melt to the 200-Day moving average easily. But if the MAGIC price slips below the 200-Day EMA and sustains then investors may prefer to book profit which may result in a sharp fall.

Technical Analysis of MAGIC Price on 4-H Timeframe

In a 4-H time frame, the MAGIC crypto price has formed an ascending triangle pattern and is currently near the resistance level of $1.300. If the Treasure crypto price surpasses the resistance of $1.30 and sustains then buyers may become confident and they may lift the price to the resistance level of $1.45.

Alternatively, if the MAGIC cryptocurrency slips below the 200-Day moving average then selling pressure for the short term can be observed and the price may decline to the support level of $1.15.

Conclusion

Based on the technical analysis, the Treasure (MAGIC) crypto price has shown a bullish trend and has been rising through a trendline. The trading volume has increased by 40% in the last 24 hours and the sentiment is bullish. The price is expected to gain 13.76% and reach $1.44 by March 07, 2024. However, if the price fails to defend the trendline, it may melt to the 200-Day EMA and sustain below it, which may result in a sharp fall.

Technical Levels

Resistance Levels: $1.60 & $2.20

Support Levels: $1.20 & $0.95

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.