Magic Price Prediction – MAGIC Price Estimated to Reach $ 3.48 By Feb 21, 2023
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
- Magic is up 25.32% today against the US Dollar
- MAGIC/BTC increased by 18.06% today
- MAGIC/ETH increased by 19.39% today
- Magic is currently trading 35.45% below our prediction on Feb 21, 2023
- Magic gained 185.28% in the last month and is down -58.37% since 1 year ago
| Magic price | $ 2.24 |
| Magic prediction | $ 3.48 (54.98%) |
| Sentiment | Bullish |
| Fear & Greed index | 62 (Greed) |
| Key support levels | $ 1.71, $ 1.50, $ 1.39 |
| Key resistance levels | $ 2.03, $ 2.14, $ 2.34 |
MAGIC price is expected to rise by 54.98% in the next 5 days according to our Magic price prediction
Magic price today is trading at $ 2.24 after gaining 25.32% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 27.91% in the same time period. MAGIC performed well against BTC today and recorded a 18.06% gain against the world’s largest cryptocurrency.
According to our Magic price prediction, MAGIC is expected to reach a price of $ 3.48 by Feb 21, 2023. This would represent a 54.98% price increase for MAGIC in the next 5 days.
MAGIC Price Prediction Chart
What has been going on with Magic in the last 30 days
Magic has been displaying a positive trend recently, as the coin gained 185.28% in the last 30-days. The medium-term trend for Magic has been bullish, with MAGIC increasing by 722.31% in the last 3 months. The long-term picture for Magic has been negative, as MAGIC is currently displaying a -58.37% 1-year price change. On this day last year, MAGIC was trading at $ 5.39.
Magic reached its all-time high price on Feb 19, 2022, when the price of MAGIC peaked at $ 6.49. The current MAGIC cycle high is $ 2.31, while the cycle low is at $ 0.212677. MAGIC has been displaying high volatility recently – the 1-month volatility of the coin is at 27.43. Magic recorded 19 green days in the last 30 days.
Magic technical analysis for today - Feb 16, 2023
The sentiment in the Magic markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 1.71, $ 1.50 and $ 1.39, while $ 2.03, $ 2.14 and $ 2.34 are the key resistance levels.
Bullish sentiment for Magic
26 indicators are currently signaling a bullish prediction for Magic, while 0 indicators are showing a bearish forecast. With 100% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Magic.
Crypto market is currently experiencing Greed
Currently, the Fear & Greed index is at 62 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.
Magic moving averages & oscillators
Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Magic is positioned in the market right now.
| Period | Daily Simple | Daily Exponential | Weekly Simple | Weekly Exponential |
| MA3 | $ 1.67 (BUY) | $ 1.91 (BUY) | - | - |
| MA5 | $ 1.61 (BUY) | $ 1.74 (BUY) | - | - |
| MA10 | $ 1.69 (BUY) | $ 1.67 (BUY) | - | - |
| MA21 | $ 1.64 (BUY) | $ 1.58 (BUY) | $ 0.675526 (BUY) | $ 0.935994 (BUY) |
| MA50 | $ 1.09 (BUY) | $ 1.25 (BUY) | $ 0.933091 (BUY) | $ 0.962582 (BUY) |
| MA100 | $ 0.764574 (BUY) | $ 0.959512 (BUY) | - | - |
| MA200 | $ 0.621841 (BUY) | $ 0.845468 (BUY) | - | - |
| Period | Value | Action |
| RSI (14) | 61.53 | NEUTRAL |
| Stoch RSI (14) | 28.42 | NEUTRAL |
| Stochastic Fast (14) | 71.86 | NEUTRAL |
| Commodity Channel Index (20) | 66.67 | NEUTRAL |
| Average Directional Index (14) | 42.28 | BUY |
| Awesome Oscillator (5, 34) | 0.20 | NEUTRAL |
| Momentum (10) | 0.11 | BUY |
| MACD (12, 26) | -0.04 | NEUTRAL |
| Williams Percent Range (14) | -28.14 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 50.82 | NEUTRAL |
| VWMA (10) | 1.73 | BUY |
| Hull Moving Average (9) | 1.47 | BUY |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 1.51 | NEUTRAL |
The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Magic is at 61.53, suggesting that MAGIC is currently neutral.
The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Magic over the last 50 days. Currently, Magic is trading below the SMA 50 trendline, which is a bearish signal.
Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MAGIC closing price for the last 200 days. MAGIC is now trading below the SMA 200, signaling that the market is currently bearish.
The bottom line about this Magic prediction
After considering the above factors, we can conclude that the current forecast for Magic price prediction is Bullish. MAGIC would have to increase by 54.98% to hit our $ 3.48 target within the next five days. Moving forward, it will be important to monitor the MAGIC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Magic price predictions click here.
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
