MAGIC Crypto Poised To Hit A New Milestone?

MAGIC is a token that connects different gaming communities in the Treasure ecosystem. It is used to play, trade, stake, and govern various games and NFTs. It is built on Arbitrum, which is a layer-2 solution on the Ethereum. It has a fixed and deflationary supply. 

It is distributed to different stakeholders, such as farmers, miners, stakers, developers, and contributors. Magic is designed to be scarce and valuable as more players join the Treasure platform. 

The price action analysis of Magic cryptocurrency illustrates a decline in the recent sessions. The price has made a retest of the previous support zone and the 50-day EMA, indicating the presence of buyers near the support zone. 

Furthermore, A bullish crossover of the 50-day and 200-day EMA is visible on the charts indicating a positive trend prevailing. The price may resume a positive trend if it bounces back from the EMAs.

On the other side, the breakdown below the 200-day EMA may weaken the price trend and it may show a decline thereafter.

The volume analysis shows that MAGIC has a 24-hour trading volume of $61.12 Million with a drop of 8.44% as compared to yesterday. The live market cap of Magic is $202.31 Million and ranks 188th among all the cryptos. The volume-to-market cap ratio is 27.71%, highlighting mild volatility in the market. 

Magic Price Prediction 2023

The price prediction for 2023 shows a neutral to bearish outlook in the short term. The most optimistic view of analysts estimates the price may reach a high of $0.9304 by the year-end. The pessimistic view of analysts estimates that the price may drop to $0.6743.

Magic Price Prediction 2024

As per the analysts, the most optimistic target that the MAGIC price may achieve by 2024 is $1.6306, indicating an upside potential of 107.58% from the CMP. However, the pessimistic view of analysts expects the price to reach $1.1173.  

Magic Price Prediction 2025

The most optimistic analyst forecast for the Magic coin expects the price to reach a high of $2.2420 with a potential gain of 183.16% from the CMP. The minimum forecasted price by the end of 2025 is $1.9714. The average predicted price till 2025 is $1.6768. 

Magic Price Prediction 2026

The MAGIC token price may reach a high of $3.277 if a positive trend prevails in the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $2.3577 by 2026. 

Magic Price Prediction 2027

According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates the MAGIC price to reach a high of $4.625. The minimum price target of analysts is $3.6402 by 2027. 

Magic Price Prediction 2028

Till 2028, the overall crypto market may see more exposure and evolve more. On the most optimistic side, the MAGIC crypto price may reach a high of $6.7895. However, the pessimistic view of analysts expects the price to reach $4.8056. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.