Market Overview: Treasure/Bitcoin (MAGICBTC) 24-Hour Price Action

Summary
• Price remains range-bound between 1.05e-06 and 1.11e-06 on the 5-minute chart.
• Key bullish momentum seen around 20:30–21:30 ET, but failed to sustain above 1.10e-06.
• Volume spikes confirm consolidation but show no breakout potential in the last 24 hours.
• RSI neutral, no clear overbought or oversold signals.

Treasure/Bitcoin (MAGICBTC) opened at 1.06e-06 on 2025-12-31 12:00 ET, reached a high of 1.11e-06, and a low of 1.05e-06, closing at 1.07e-06 on 2026-01-01 12:00 ET. Total traded volume was 180,094.2, with a notional turnover of approximately 0.192 BTC.

Structure & Formations

Price remained within a tight range of 1.05e-06 to 1.11e-06 throughout the 24-hour period. The 1.11e-06 level appears to act as resistance, with several attempts to push above failing. A bearish engulfing pattern formed at 20:30 ET when price moved from 1.07e-06 to 1.10e-06 but reversed back.

Moving Averages

Short-term moving averages (20/50-period) on the 5-minute chart show a flat trend, suggesting no clear directional bias. The price has bounced off the 50-period MA on multiple occasions, indicating a consolidation phase.

Momentum & Indicators

MACD remained flat with no significant divergence, suggesting balanced bullish and bearish momentum. RSI hovered around the 50 mark, indicating neutral conditions with no overbought or oversold signals.

Volatility and Volume

Volatility was moderate, with the highest spike occurring at 20:30 ET when volume surged to 79,747.9. This coincided with a price attempt to break above 1.11e-06 but failed, suggesting lack of conviction. Turnover was consistent across most intervals, with no notable divergences.

Fibonacci Retracements

Applying Fibonacci retracement to the most recent 5-minute swing from 1.05e-06 to 1.11e-06, the 61.8% level at ~1.08e-06 appears to be a critical support zone. Price has tested this level multiple times, suggesting it could hold in the near term.

Looking ahead, price may consolidate within the 1.05e-06 to 1.11e-06 range over the next 24 hours, with potential for a test of the 1.08e-06 level. Traders should remain cautious as a breakout or breakdown could trigger increased volatility, especially if volume picks up.