Tuesday, January 31, 2023
    HomeMarketMagic (MAGIC/USD) token soars on positive news

    Magic (MAGIC/USD) token soars on positive news


    • The magic token has doubled in value previously week

    • The cryptocurrency has been boosted by potential itemizing by Coinbase

    • MAGIC is underneath 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%, but it surely has greater than doubled in value because the begin of the month.

    The good points in MAGIC occurred after US crypto alternate 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 venture in search of to change into 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 beneath 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 remains to be bullish, though MAGIC is overbought, with an RSI studying of $75.

    The 20-day transferring common is shifting above the 50-day MA, according to the bullish momentum. Each transferring averages supply MAGIC assist.

    These key ranges will probably be essential to bulls

    $0.51 – That is the rapid assist 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’ll permit them to push greater and provoke a breakout at $0.70. The extent is required to carry for MAGIC to have an opportunity for additional good points.

    $0.30 – That is the established assist for the cryptocurrency. Though mendacity deep beneath, it could possibly be hit if $0.51 fails to carry. That would push MAGIC again into consolidation and doubtlessly wipe out the good points 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 may nonetheless buy MAGIC utilizing a DEX (decentralised alternate) although, which simply means there are just a few additional steps. To purchase MAGIC proper now, observe these steps:

    1. Purchase ETH on a regulated alternate 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 alternate and pockets all-in-one with a number of the lowest charges within the business. It is also beginner-friendly, and has extra cost strategies out there to customers than another out there service.

    2. Ship your ETH to a appropriate pockets like Belief Pockets or MetaMask

    You will must create your pockets, seize your tackle, 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 just’re related, you can swap for 100s of cash together with MAGIC.

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