- MAGIC token has soared 35% in the past week and 7% on the day.
- The token is now available on Upbit Global, a South Korean exchange.
- MAGIC is used by gaming projects on Treasure.
The cost of Magic (MAGIC) skyrocketed prior to the launch of the token on major crypto exchange Upbit Global on Tuesday.
MAGIC is the native token of Treasure, a decentralized gaming ecosystem that connects gamers and games. Furthermore, Treasure connects the gaming community through non-fungible tokens (NFTs). MAGIC is used by projects, and the recent listing could be a major factor in the price movement over the coming days.
It’s official – $MAGIC is set to go live on @upbitglobal on Mar 21 at 4pm KST (MAGIC-BTC)!
Upbit is a leading exchange in South Korea and we are ecstatic for MAGIC to be even more accessible to one of the most important gaming markets out there.
파이팅 ! ✨ pic.twitter.com/I2fdGvDZrw
— Treasure (@Treasure_DAO) March 21, 2023
Magic tokens are accessible on multiple top crypto exchanges, including Coinbase, Binance, Gate.io, and now Upbit, making it even more available to one of the largest blockchain gaming markets in the world.
MAGIC Price Analysis: MAGIC Could Climb 25% to $2.33
MAGIC was trading in the green on the day as most altcoins struggled as liquidity shifted towards a rolling Bitcoin market that had BTC trending above $28,000 for the third day after breaking its macro downward trend.
As for Magic price, it was trading at 0.00006594 BTC at around 8:00 am ET on 21 March, up nearly 1.2% a few hours after the token was listed on the South Korean based crypto exchange with the BTC/MAGIC pair.
Against the US dollar, MAGIC was trading around $1.87 and was up 7% and 35% in the past 24 hours and 7 days respectively. The gains follow a bullish momentum lifted by the buzz around Arbitrum (ARB).
MAGIC price movement on Binance. Source: TradingView
Technically, MAGIC price has stayed above the 20 day exponential moving average since breaking above its resistance on 14 March. However, bulls have twice failed to break the immediate barrier at $1.96, making the resistance level at $2.00 the primary goal in the short term.
If bulls successfully break through the supply wall at this level, they could encounter the resistance expected around $2.15 – the point of main rejection on 7 February that saw MAGIC eventually retest lows of $0.99 on 11 March 2023.
If the upward trend continues, which is supported by the rising Relative Strength Index (RSI) indicator currently above 60, and a positive Awesome Oscillator, Magic could see a 25% jump to its year-to-date peak at $2.33.
