MAGIC/USDT Price Analysis: Breakout Potential at $0.28 Amidst Ascending Triangle

The MAGIC cryptocurrency is currently consolidating within a horizontal supply zone between $0.22 and $0.24 on the daily chart, following a significant surge above its 200-day moving average. A breakout above the $0.28 resistance level could signal a bullish continuation, potentially targeting prices ranging from $0.35 to $0.40 in the medium term. The ascending triangle formation on the daily chart, with the rising trendline acting as strong support since early June, indicates potential for further price increases.