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The magic token has doubled in value previously week
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The cryptocurrency has been boosted by potential itemizing by Coinbase
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MAGIC is beneath correction because the cryptocurrency approaches the $0.7 resistance
Ever heard of the Magic (MAGIC/USD) token? With a market cap of $103.31 million, the cryptocurrency is among the many lowly ranked at #230. Nonetheless, consumers are tenting for this minor token on optimistic cryptocurrency news. As of press time, the cryptocurrency was up 10%, however it has greater than doubled in value because the begin of the month.
The positive factors in MAGIC occurred after US crypto trade Coinbase stated that the cryptocurrency was on its itemizing roadmap. Different tokens on the Coinbase itemizing goal are Rocket Pool (RPL) and Aragon (ANT). However what’s MAGIC?
MAGIC is the native token of Treasure DAO, a undertaking looking for to grow to be a decentralised online game console. The DAO targets video games and non-fungible tokens. Among the many DAO’s infrastructure is an NFT market Trover and gaming platform Bridgeworld.
MAGIC corrects barely under the resistance of $0.7
MAGIC/USD Chart by TradingView
A technical outlook exhibits MAGIC dealing with resistance because the cryptocurrency approached a key resistance at $0.7. The momentum continues to be bullish, though MAGIC is overbought, with an RSI studying of $75.
The 20-day shifting common is shifting above the 50-day MA, according to the bullish momentum. Each shifting averages provide MAGIC help.
These key ranges shall be necessary to bulls
$0.51 – That is the instant help degree for the cryptocurrency. The extent has been examined and holds floor at the same time as MAGIC corrects. If bulls defend this degree, it should permit them to push increased and provoke a breakout at $0.70. The extent is required to carry for MAGIC to have an opportunity for additional positive factors.
$0.30 – That is the established help for the cryptocurrency. Though mendacity deep under, it might be hit if $0.51 fails to carry. That might push MAGIC again into consolidation and probably wipe out the positive factors already made.
The place to purchase MAGIC
As MAGIC is such a brand new asset, it is but to be listed on main exchanges. You possibly can nonetheless buy MAGIC utilizing a DEX (decentralised trade) although, which simply means there are just a few further steps. To purchase MAGIC proper now, observe these steps:
1. Purchase ETH on a regulated trade or dealer, like eToro ›
We recommend eToro as a result of it is one of many world’s main multi-asset buying and selling platforms, an trade and pockets all-in-one with among the lowest charges within the business. It is also beginner-friendly, and has extra fee strategies obtainable to customers than every other obtainable service.
2. Ship your ETH to a appropriate pockets like Belief Pockets or MetaMask
You may must create your pockets, seize your deal with, and ship your cash there.
3. Join your pockets to the 1Inch DEX
Head to 1Inch, and ‘join’ your pockets to it.
4. Now you can swap your ETH for MAGIC
Now that you simply’re linked, you can swap for 100s of cash together with MAGIC.