MAGIC BTC Cosmic Universe Magic Technical Analysis

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By Frans van Elst

Cosmic Universe Magic logo In this Cosmic Universe Magic technical analysis, we will examine the current price action, trading volume, key levels and indicators for MAGIC-BTC. Cosmic Universe Magic (MAGIC) is a decentralized cryptocurrency that utilizes cutting-edge blockchain technology to facilitate fast and secure transactions. With its innovative consensus algorithm, MAGIC enables users to experience seamless and efficient transaction processing, while its unique governance model ensures the longevity and sustainability of the network. By harnessing the power of decentralized finance (DeFi), MAGIC aims to provide users with an unparalleled cryptocurrency experience.

Cosmic Universe Magic Price Overview:

As of May 14, 2024, Cosmic Universe Magic is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for MAGIC-BTC:

Navigate Cosmic Universe Magic’s (MAGICBTC) potential downturns at 1.06e-05 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 324,452.10
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Cosmic Universe Magic reached a daily high of around 1e-05 BTC.
  • Low (L): The daily low for MAGIC-BTC was approximately 1e-05 BTC.
  • Close (C): At the time of analysis, Cosmic Universe Magic is trading near its daily close of 1e-05 BTC.
Metric Value
1D Change (%) -0.56%
3D Change (%) -6.35%
7D Change (%) -9.46%
30D Change (%) -14.01%
90D Change (%) -59.23%
YTD Change (%) -58.60%

Over the past three days, MAGICBTC has dropped by approximately -6.35%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -9.46%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MAGICBTC maintaining a downward trend of approximately -14.01%, despite intermittent fluctuations. Examining the last 90 days, MAGICBTC has witnessed substantial fall of approximately -59.23%, reflecting strong long-term confidence. Year-to-date, MAGICBTC has steadily declined by around -58.60%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Cosmic Universe Magic Live Chart:

You can access a live price chart for MAGIC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.43147.
  • Momentum score is -0.19362.

MAGIC BTC Technical Analysis

Cosmic Universe Magic Trading Volume:

The trading volume for Cosmic Universe Magic (MAGIC) over the past 24 hours has been insignificant, with approximately 324,452.10 BTC traded against MAGIC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): MAGIC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Cosmic Universe Magic is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for MAGIC-BTC is currently in the low zone, around 35.5287. This suggests that Cosmic Universe Magic is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Cosmic Universe Magic (MAGIC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Navigate Cosmic Universe Magic’s (MAGICBTC) potential downturns at 1.06e-05 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Take your understanding to the next level with our extensive analysis of MAGIC USDT Cosmic Universe Magic Technical Analysis; if you enjoyed this post, you’re in for a treat!

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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