Magic made a significant surge, reaching $2.06 levels following news of an airdrop from the Arbitrum network.
However, after the airdrop took place, Magic made a considerable retrace and has been consolidating between the $1.50-$1.25 range for some time now. Technically speaking, after clearing the liquidity of the support zone, it re-test the resistance zone. If the resistance is broken, the next important resistance level that I think is crucial lies at the $1.67 region. Although the most critical support level in the event of a pullback is $1.25, I believe there could be a reaction at the $1.38 levels as an intermediate support zone.