- MAGIC worth jumped 35% final week and seven% on the day.
- The token operates on Upbit World, a cryptocurrency trade primarily based in South Korea.
- The Treasure recreation tasks use MAGIC.
The value of Magic (MAGIC) exploded on Tuesday forward of the token’s itemizing on main cryptocurrency trade Upbit World.
MAGIC is a local token of Treasure, a decentralized gaming ecosystem that connects video games and gamers. Treasure additionally connects the gaming group by means of non-fungible tokens (NFTs). Initiatives use MAGIC and the newest itemizing could possibly be an enormous think about worth motion within the coming days.
It is official – $MAGIC going dwell @upbitglobal March 21 4 p.m. KST (MAGIC-BTC)!
Upbit is the main trade in South Korea and we’re excited to make MAGIC much more accessible to one of the vital essential gaming markets.
combating ! β¨ pic.twitter.com/I2fdGvDZrw
– Treasure (@Treasure_DAO) in 2023 March 21
Magic Tokens can be found on a number of prime crypto exchanges together with Coinbase, Binance, Gate.io, and now Upbit is making them much more accessible to one of many largest blockchain gaming marketplaces on the earth.
MAGIC Worth Evaluation: MAGIC might pump 25% to $2.33
MAGIC traded within the inexperienced on the day as most altcoins struggled to pump liquidity into the unstable Bitcoin market, which noticed BTC break above $28,000 for the third day because the macro decline.
As for Magic worth, it was buying and selling at 0.00006594 BTC round March twenty first. 8 o’clock morning ET, up practically 1.2% hours after the token listed on the South Korean crypto trade with the BTC/MAGIC pair.
Towards the US greenback, MAGIC is buying and selling at round $1.87, up 7% and 35% over the previous 24 hours and seven days, respectively. The rise got here on the again of rising momentum fueled by hype round Arbitrum (ARB).
MAGIC Worth Motion on Binance. Supply: TradingView
Technically, MAGIC’s worth has moved above the 20-day exponential transferring common because the 14 March excessive. overcame resistance. Nonetheless, the bulls failed to interrupt the instant $1.96 barrier twice, so the $2.00 resistance stage is the primary goal within the brief time period.
If the bulls efficiently break by means of the availability wall at this stage, they may face a hurdle anticipated round $2.15, the date MAGIC lastly retested the 2023 low of $0.99 on February 7. March 11
A bullish continuation supported by a rising Relative Energy Index (RSI) at present above 60 and a constructive Superior Oscillator might see Magic rally 25% to its yearly excessive of $2.33.
On the draw back, a draw back transfer from present ranges might see a drop to the instant horizontal assist line close to $1.72. The 20-day EMA line at $1.56 could possibly be one other bullish buffer zone.
