In this Cosmic Universe Magic technical analysis, we will examine the current price action, trading volume, key levels and indicators for MAGIC-USDT. Cosmic Universe Magic (MAGIC) is a decentralized cryptocurrency that utilizes advanced encryption techniques to secure its network and protect user data. With MAGIC, users can enjoy fast and secure transactions without the need for intermediaries or central authorities. Additionally, MAGIC’s innovative consensus algorithm ensures that the network remains stable and scalable, allowing for a seamless user experience.
Cosmic Universe Magic Price Overview:
As of July 08, 2024, Cosmic Universe Magic is trading at approximately 0.4757 USDT. Let’s dive into the detailed price action for MAGIC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.457 |
| High (H) | 0.4949 |
| Low (L) | 0.4378 |
| Close (C) | 0.4757 |
| Volume (C) | 8,490,328.70 |
- Open (O): The opening price for today’s trading session was approximately 0.457 USDT.
- High (H): Cosmic Universe Magic reached a daily high of around 0.4949 USDT.
- Low (L): The daily low for MAGIC-USDT was approximately 0.4378 USDT.
- Close (C): At the time of analysis, Cosmic Universe Magic is trading near its daily close of 0.4757 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.07% |
| 3D Change (%) | 9.08% |
| 7D Change (%) | -17.66% |
| 30D Change (%) | -39.20% |
| 90D Change (%) | -50.27% |
| YTD Change (%) | -56.14% |
Over the past three days, MAGICUSDT has risen by approximately 9.08%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -17.66%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MAGICUSDT maintaining a downward trend of approximately -39.20%, despite intermittent fluctuations. Examining the last 90 days, MAGICUSDT has witnessed substantial drop of approximately -50.27%, reflecting strong long-term confidence. Year-to-date, MAGICUSDT has steadily decreased by around -56.14%, 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-USDT 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 0.87298.
- Momentum score is -0.2407.
MAGIC USDT Technical Analysis
Cosmic Universe Magic Trading Volume:
The trading volume for Cosmic Universe Magic (MAGIC) over the past 24 hours has been significant, with approximately 8,490,328.70 USDT 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-USDT is currently in the low zone, around 37.04324. This suggests that Cosmic Universe Magic is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Cosmic Universe Magic (MAGIC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Receive signals of caution for potential Cosmic Universe Magic (MAGICUSDT) downturns at 4.76e-01 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.
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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.