Market Overview for Treasure/Bitcoin (MAGICBTC) – 24-Hour Summary

Summary
• Price consolidated near 1.13e-06 amid low volume.
• A bearish rejection emerged at 1.14e-06 with a potential short-term support at 1.12e-06.
• Momentum waned as RSI approached oversold territory.

The pair opened at 1.14e-06 on 2025-12-17 at 12:00 ET, reached a high of 1.14e-06, and a low of 1.08e-06, closing at 1.08e-06 by 12:00 ET on 2025-12-18. Total 24-hour volume was 98,158.8, with a notional turnover of 1.102.

Structure & Formations

Price spent much of the day consolidating between 1.12e-06 and 1.14e-06,

A key support area appears to be forming near 1.12e-06, where the price tested but did not break below on multiple occasions.

Moving Averages and Momentum

Short-term moving averages (20/50) on the 5-minute chart show a bearish bias as price remained below the 50-period line. The MACD histogram has been shrinking, suggesting a waning bearish momentum, while RSI approached the 30 level, hinting at potential oversold conditions.

Volatility and Volume

Volatility remained low throughout the session, with price hovering near the middle of the Bollinger Bands. Volume was unevenly distributed, with notable spikes during the early evening and late morning hours, but no significant divergence between price and volume.

Key Levels and Fibonacci

A 38.2% Fibonacci retracement level aligns with the 1.12e-06 support, while the 61.8% retracement level is near 1.13e-06. The price appears to have rejected this 61.8% level in the late evening, suggesting a potential continuation of the downward trend.

Looking ahead, a close below 1.12e-06 could signal increased bearish pressure, while a rebound above 1.14e-06 may offer a near-term reprieve. Investors should remain cautious, as the low volume and tight price range suggest a lack of conviction in either direction.