Based on today's classical pivot point (P1) with the value of $0.05655, Magic has support levels of $0.05356, $0.05150, and the strongest at $0.04850. Similarly, Magic resistance levels are at $0.05861, $0.06161, and $0.06366.
| # | Price | Strength |
|---|---|---|
| S1 | $0.05356 | |
| S2 | $0.05150 | |
| S3 | $0.04850 |
| # | Price | Strength |
|---|---|---|
| R1 | $0.05861 | |
| R2 | $0.06161 | |
| R3 | $0.06366 |
Technical indicators are an essential tool for conducting technical analysis. They provide insights into an asset's market status, investor sentiment, and more, thereby helping investors make more informed trading decisions.
| Period | Value | Action |
|---|---|---|
| RSI (14) | 33.80 | NEUTRAL |
| Stoch RSI (14) | 0.00 | BUY |
| Stochastic Fast (14) | 10.60 | BUY |
| Commodity Channel Index (20) | -128.41 | BUY |
| Average Directional Index (14) | 24.64 | NEUTRAL |
| Awesome Oscillator (5, 34) | -0.01 | NEUTRAL |
| Momentum (10) | -0.01 | NEUTRAL |
| MACD (12, 26) | -0.00 | NEUTRAL |
| Williams Percent Range (14) | -89.40 | BUY |
| Bull Bear Power (13) | -0.01 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 44.03 | NEUTRAL |
| VWMA (10) | 0.06 | SELL |
| Hull Moving Average (9) | 0.06 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 0.06 | NEUTRAL |
Over the past 7 days, Magic price was most positively correlated with the price of Shiba Inu (SHIB), Curve DAO Token (CRV), Immutable X (IMX), Floki Inu (FLOKI) and Dogecoin (DOGE) and most negatively correlated with the price of Zcash (ZEC), Ondo Finance (ONDO), NEAR Protocol (NEAR), Internet Computer (ICP) and Ethena (ENA).
| Name | Correlation |
|---|---|
| Shiba Inu | 0.895 |
| Curve DAO Token | 0.876 |
| Immutable X | 0.872 |
| Floki Inu | 0.844 |
| Dogecoin | 0.834 |
| Name | Correlation |
|---|---|
| Zcash | -0.474 |
| Ondo Finance | -0.401 |
| NEAR Protocol | -0.383 |
| Internet Computer | -0.305 |
| Ethena | -0.252 |
Magic price is positively correlated with the top 10 coins by market cap with a price of 0.613, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.455.
Currencies that are positively correlated with Magic indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Magic, a move in one direction for Magic would translate into a move in the opposite direction for the negatively correlated coin.
