Advertisement
The MAGIC token has made a big comeback. Just a few months ago, its price was going down. From January to April, the token dropped from $0.58 to just $0.065. Many people stopped paying attention to it. But now, things have changed. In the last seven days, the token has gone up by 65 percent. It is now trading at $0.26. This is the highest it has been since late January.
The reason behind this sudden growth is the renewed excitement around Web3 gaming. This is the sector where MAGIC belongs. The Treasure project, which is behind the MAGIC token, is gaining attention again. This platform allows developers to build and launch blockchain-based games. It also helps with NFT marketplaces and community support. Some people are calling it the Nintendo of Web3.
Charts show that MAGIC has broken out of a long downtrend. It has moved past the top line of a falling wedge. This is a pattern that usually means a strong bounce is coming. Another signal of growth is the MACD indicator. It is now in positive territory. That means momentum is shifting upward. This is a good sign for the token’s future.
If this momentum continues, MAGIC may soon break the next resistance at $0.35. After that, it could head toward $0.70. On the daily chart, another strong signal has appeared. The Supertrend line is now below the current price. This usually tells traders that the token is in a buying zone. If this trend holds, MAGIC could keep rising. The next target in the short term is $0.42, which is based on a common chart level called the golden ratio.
Long-term predictions are more ambitious. If the market stays strong and more people buy into altcoins, MAGIC might even go close to $1. But this is not guaranteed. If sellers take over again, the price could fall back. The first warning zone is around $0.20. If things get worse, it could even dip below $0.10.
Right now, though, the outlook looks positive. The token has gained strength and attention. Web3 gaming is seeing fresh energy. And MAGIC is riding that wave.