Crypto Rally: MAGIC, RAY Tokens Surge Sharply in Last 24 Hours
MAGIC +7.35%
MAGIC is the native token of the Magic ecosystem, which focuses on blockchain-based digital assets and decentralized applications. Recently, MAGIC has drawn attention due to a significant price movement and increased trading volume.
#MAGIC Token surged over 40% within 24 hours, driven by rising volume and ongoing ecosystem expansion. This surge reflects growing investor interest as the project continues to develop its platform and partnerships. The token currently trades around $0.257 AUD, showing a 5.86% increase in the last day despite minor hourly fluctuations.
Given the strong volume and ecosystem growth, MAGIC’s price momentum may continue in the short term. However, investors should watch for potential volatility as the market digests these gains. A cautious estimate suggests a moderate rise if expansion news persists, but a pullback could occur without sustained catalysts.
Detailed technical indicators analysis for MAGIC/USDT:USDT
MAGIC/USDT:USDT – Score: 9, Price: 0.1723
Scalping Potential: Low, Confidence: Medium
⚫ Entry Rating: Poor, Best Timeframe: 15m
Bullish Signals: 5
Entry condition analysis
- RSI Zone: Fair entry zone
- Pullback: ❌ None
- Support Bounce: ✅ Strong
- Volume Pattern: ❌ Poor
- Risk/Reward: ❌ Poor
- Trend Change Signals: ❌ None
- Bullish Divergences: ❌ None
- Price Pattern: ✅ Retest
⚠️ Warning signals
- 🟠 Volume Confirmation Missing (Medium Risk, 15m): Strong price movement without volume confirmation on 15m chart
- 🟠 Volume Confirmation Missing (Medium Risk, 1h): Strong price movement without volume confirmation on 1h chart
- 🟠 Resistance Proximity (Medium Risk, 15m): Price is near resistance without sufficient volume for breakout on 15m chart – Resistance at: 0.17310000 (0.46% away)
Timeframe analysis
— 15m Timeframe (Score: 5) —
- RSI: 65.15 (rising, neutral) – Bullish
- MACD: Histogram: 0.00055706245777357 – Bullish
- Moving Averages: Price Above Short MA: Yes – Bullish
- Volume: 0.56598438244658 above average – Neutral
- S/R: Near Support – Support
— 1h Timeframe (Score: 4) —
- RSI: 60.42 (rising, neutral) – Bullish
- MACD: Histogram: -0.0042447110710815 – Neutral
- Moving Averages: Price Above Short MA: Yes – Bullish
- Volume: 0.12942327188912 above average – Neutral
- S/R: Neutral – Neutral
RAY +5.79%
RAY is the governance and utility token of Raydium, a decentralized exchange (DEX) and automated market maker (AMM) built on Solana. It competes with platforms like Uniswap by offering fast transactions and liquidity aggregation.
#RAY Token experienced a notable 16.8% price increase following its listing on Upbit and an announced buyback program that boosted demand and trading volume. Despite a recent 35% drop amid rumors of competing AMMs like PumpFun entering the market, the token’s fundamentals remain strong due to its established user base and ecosystem incentives.
While short-term volatility is expected given competitive pressures, RAY’s strategic moves such as buybacks and exchange listings suggest potential for recovery and growth. If Raydium maintains its market share and innovation pace, RAY could see renewed upward momentum; otherwise, prices might stabilize or decline slightly.
Detailed technical indicators analysis for RAY/USDT:USDT
RAY/USDT:USDT – Score: 4, Price: 0.248
Scalping Potential: Low, Confidence: Low
⚫ Entry Rating: Poor, Best Timeframe: 15m
Bullish Signals: 0
Entry condition analysis
- RSI Zone: Poor entry zone
- Pullback: ❌ None
- Support Bounce: ❌ Weak
- Volume Pattern: ❌ Poor
- Risk/Reward: ❌ Poor
- Trend Change Signals: ❌ None
- Bullish Divergences: ❌ None
- Price Pattern: ❌ None
⚠️ Warning signals
- 🔴 Extreme Overbought RSI (High Risk, 15m): RSI is extremely overbought (100.00) on the 15m chart, high reversal risk
- 🔴 Extreme Overbought RSI (High Risk, 1h): RSI is extremely overbought (100.00) on the 1h chart, high reversal risk
- 🟠 Volume Confirmation Missing (Medium Risk, 15m): Strong price movement without volume confirmation on 15m chart
- 🟠 Volume Confirmation Missing (Medium Risk, 1h): Strong price movement without volume confirmation on 1h chart
- 🟠 Resistance Proximity (Medium Risk, 15m): Price is near resistance without sufficient volume for breakout on 15m chart – Resistance at: 0.24800000 (0% away), 0.24800000 (0% away), 0.24800000 (0% away)
- 🟠 Resistance Proximity (Medium Risk, 1h): Price is near resistance without sufficient volume for breakout on 1h chart – Resistance at: 0.24800000 (0% away), 0.24800000 (0% away), 0.24800000 (0% away)
Timeframe analysis
— 15m Timeframe (Score: 2) —
- RSI: 100.00 (flat, overbought) – Neutral
- MACD: Histogram: 0 – Neutral
- Moving Averages: Price Above Short MA: No – Neutral
- Volume: 0 above average – Neutral
- S/R: Near Support – Support
— 1h Timeframe (Score: 2) —
- RSI: 100.00 (flat, overbought) – Neutral
- MACD: Histogram: 0 – Neutral
- Moving Averages: Price Above Short MA: No – Neutral
- Volume: 0 above average – Neutral
- S/R: Near Support – Support
