MAGIC Review and Price Analysis 02.02.2024

$MAGIC is the utility token of Treasure, a decentralized gaming ecosystem developed on the Arbitrum blockchain. $MAGIC tokens are used to participate in governance within the game, facilitate the buying and selling of NFTs on the Treasure marketplace, and can also be staked. The recent surge in the value of $MAGIC has attracted attention, and upon technical examination, it appears noteworthy ;

It has been consistently maintaining an upward trend since October 19 without breaking its structure. With its recent surge, it faced resistance at the $1.31 level. If the price fails to surpass this zone, it could potentially test the support levels around $1.02-$1. In this region, a rebound is anticipated, taking into account both horizontal and trend intersection, before resuming its upward trajectory.

The analyses shared here are not investment advice; rather, they highlight potential support and resistance levels that could present short to medium-term trading opportunities in the market. The responsibility for making trades and managing risks lies with the user. It is strongly recommended to use stop-loss orders when engaging in any trades based on the shared information.

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