Magic Eden (ME) Rockets Higher: With a 50% Jump and 3,120% Volume Eruption, Can It Hold the Pace?

TheNewsCryptoPubblicato 2026-02-12Pubblicato ultima volta 2026-02-12

Introduzione

Amid a broader crypto market uptick of 1.39%, Magic Eden (ME) has surged significantly, recording a 50.90% price increase within 24 hours. After starting the day at a low of $0.1316, ME climbed to a high of $0.2434, breaking through key resistance levels. It is currently trading at $0.2005, accompanied by a massive 3,120% surge in trading volume, reaching $204 million. Technical indicators suggest bullish control: the MACD is above the signal line, confirming a positive trend. However, the Chaikin Money Flow indicates mild selling pressure, and the RSI at 87.20 signals that ME is heavily overbought, suggesting a potential correction. If bullish momentum continues, ME could target $0.2047 or higher, but a bearish reversal might push it toward support at $0.1984 or lower.

The market spikes 1.39%, pushing the majority of crypto assets into a green wave as it fights back against bearish pressure. With the extreme fear sentiment lingering, the potential bear presence is hanging around. Turning attention toward the altcoins, Magic Eden (ME) has registered a steady 50.90% jump in value over the last 24 hours.

In the morning hours, the asset traded with the bears at a low of $0.1316. Notably, a gradual rise of the bulls has sent the ME price to a high of $0.2434. To confirm the bullish dominance, key resistance zones between $0.1327 and $0.2423 were broken. Magic Eden currently trades at $0.2005, with its trading volume exploding by over 3120% to $204 million.

With the active bullish momentum of Magic Eden, the price movement is pushing it upward to the resistance at $0.2026. Upon the formation of a golden cross, the bulls could trigger the asset to mount up toward the $0.2047 level or higher. On the support side, assuming the Magic Eden bears are back, the price might face a hit and drop to the $0.1984 support. If a deeper correction on the downside looms, with the death cross emergence, the price would fall below $0.1963.

Technical Signals Suggest Bulls Are in Control of Magic Eden

Magic Eden’s Moving Average Convergence Divergence (MACD) line is above the signal line, displaying bullish sentiment. Since both are found above the zero line, it confirms that the broader trend is positive. It may continue moving higher unless the momentum weakens.

Besides, the Chaikin Money Flow (CMF) indicator stationed at -0.05 shows slight selling pressure. Also, the money outflows are marginally exceeding inflows, but the weakness is mild. The ME market is leaning bearish, without strong conviction, unless the value drops further.

The Bull-Bear Power (BBP) reading of 0.1275 exhibits ME’s mild bullish pressure. With the positive value, the buyers have a slight edge over the sellers; the momentum is not very strong. If the reading rises further, it may confirm a strengthening uptrend. Moreover, Magic Eden’s daily Relative Strength Index (RSI) is positioned at 87.20 implies that it is heavily overbought. Significantly, the buying pressure is extremely strong, but a pullback or correction could be imminent.

Top Updated Crypto News

Uniswap (UNI) Volume Soars 500%, Will the Recent Spike Turn Into a Breakout?

Domande pertinenti

QWhat is the percentage increase in Magic Eden's (ME) value over the last 24 hours?

AMagic Eden (ME) has registered a 50.90% jump in value over the last 24 hours.

QBy what percentage did Magic Eden's trading volume increase, and what is the current volume?

AMagic Eden's trading volume exploded by over 3120% to $204 million.

QWhat does the RSI level of 87.20 indicate about the current state of the Magic Eden (ME) token?

AA daily Relative Strength Index (RSI) of 87.20 implies that the Magic Eden (ME) token is heavily overbought, suggesting extremely strong buying pressure but also a potential imminent pullback or correction.

QAccording to the MACD indicator, what is the broader trend for Magic Eden?

AThe Moving Average Convergence Divergence (MACD) line is above the signal line and both are above the zero line, confirming that the broader trend for Magic Eden is positive and bullish.

QWhat are the identified key resistance and support levels for Magic Eden's price mentioned in the article?

AThe key resistance level mentioned is at $0.2026, with a potential to move toward $0.2047. The identified support levels are at $0.1984 and, in case of a deeper correction, below $0.1963.

Letture associate

Michael Saylor Claims It Has Become Impossible to Implement the Bitcoin Update He Opposed!

Michael Saylor stated that it has become mathematically impossible for BIP-110 to achieve its required 55% voluntary support threshold within the current Bitcoin mining difficulty adjustment cycle. According to his analysis of 946 blocks generated up to block 960,561, only 24 blocks included a version field signal supporting BIP-110. Saylor noted that all these signaling blocks were mined by DATUM miners sharing rewards through the OCEAN pool, with no supporting signals from miners outside OCEAN. He concluded that BIP-110 will not reach the 55% level in this cycle and argued the current signals do not represent a broad miner consensus. BIP-110 is a proposal aimed at making it harder to embed large non-financial data, like images or text, into the Bitcoin blockchain, promoting a view that Bitcoin should be used primarily for monetary transactions. Saylor opposes this, arguing the Bitcoin network should not arbitrate which transactions are necessary and that rules should not change based on the preferences of a few. He also contends that high support metrics may be inflated by automated signaling software rather than reflecting genuine miner support.

cryptonews.ru38 min fa

Michael Saylor Claims It Has Become Impossible to Implement the Bitcoin Update He Opposed!

cryptonews.ru38 min fa

Within Strategy's Framework, STRC's Dividend Yield Remains at 12% as Share Price Stays Below Par Value

Michael Saylor, Executive Chairman of Strategy (MSTR), confirmed that the dividend rate for its STRC perpetual preferred shares will remain at 12.00% through August 2026. The rate has increased from 9% at its July 2025 launch to the current high via a "ratchet" mechanism, which permanently raises the rate by 0.5% whenever the share price falls below $95. This mechanism is intended to push the price back toward its $100 par value and support Strategy's "at-the-market" (ATM) program for issuing new shares to fund Bitcoin purchases. However, the mechanism has not worked as intended. STRC shares closed at $89.46 on July 31, remaining about 10-11% below par value despite the record-high dividend. Competition from rival Strive's higher-yielding SATA securities has pressured demand. The persistent discount has forced Strategy to suspend new STRC issuances via its ATM program, limiting this funding channel for Bitcoin acquisitions. STRC's struggles reflect Bitcoin's own volatility, as the preferred shares historically move in tandem. Analysts have warned the ratchet structure carries long-term, one-way risk. A law firm is investigating Strategy's ability to maintain dividend payments if Bitcoin's price stays low. Retail investors own roughly 83% of outstanding STRC shares, a group seen as prone to panic selling during downturns. In response, Strategy has established financial reserves, including a liquidity cushion covering about 26 months of dividend/interest obligations, and a $2 billion share buyback program alongside a Bitcoin monetization framework, though the company emphasized it is not obligated to sell any Bitcoin.

cryptonews.ru40 min fa

Within Strategy's Framework, STRC's Dividend Yield Remains at 12% as Share Price Stays Below Par Value

cryptonews.ru40 min fa

Analyst: Bitcoin's Price Will Drop to $60k in August, Then Rebound to $70k

Financial analyst Andrey Poroshin has provided a new forecast for Bitcoin's price dynamics in August. Poroshin, an analyst at the Bitbanker exchange, expects the cryptocurrency market to experience a downturn this month, with prices retesting the $60,000 level due to a lack of supportive macroeconomic catalysts. He noted that the recent US Federal Reserve decision to hold interest rates did not significantly impact the market, while inflation remains above the 2% target. Poroshin stated that Bitcoin is ending July under pressure from moderate volatility and a lack of new macroeconomic stimuli, leading to continued market caution. According to his base scenario, Bitcoin will drop to a range of $60,000 to $62,000 before recovering to $70,000. He pointed out that even $70,000 remains below the cost of mining in the US, which has prompted some miners to shift towards AI data center operations. Poroshin cited the winding down of BitMEX's operations as a potential catalyst for a price rebound, suggesting the exit of weaker players often coincides with market reversals and reduced short-term selling pressure. He believes Bitcoin is currently less susceptible to geopolitical shocks, such as the Iran-US conflict, and does not expect significant market changes in August related to the pending CLARITY Act. Looking ahead, Poroshin forecasts that September will bring more active price fluctuations driven by potential Fed rate decisions and possible discussions or approval of the CLARITY Act.

cryptonews.ru40 min fa

Analyst: Bitcoin's Price Will Drop to $60k in August, Then Rebound to $70k

cryptonews.ru40 min fa

Following the Coldcard Hack, One of the Largest Bitcoin Wallet Hacks Recently, a New Wave of Losses Begins! Losses Are Mounting

Following a major hack targeting Coldcard hardware wallets, losses have surged to approximately 1,367 BTC ($88.6 million) across 4,585 addresses. The third wave of attacks stole an additional 207.7 BTC, exhibiting different patterns from the first two. While initial attacks used shared deposit addresses and targeted P2WPKH wallets, the latest wave employed unique recipient addresses per victim and focused on P2WSH addresses. Analysis by Galaxy Research cannot definitively link all three waves to the same attacker, raising the possibility of a second actor exploiting the known vulnerability. The stolen funds, predominantly from wallets holding under 1 BTC, remain unspent. The vulnerable Coldcard firmware was released in March 2021, and all stolen coins originate from after that date.

cryptonews.ru1 h fa

Following the Coldcard Hack, One of the Largest Bitcoin Wallet Hacks Recently, a New Wave of Losses Begins! Losses Are Mounting

cryptonews.ru1 h fa

Trump Media sells another 2,628 BTC, holdings fall to 4,261 BTC

Trump Media & Technology Group has sold an additional 2,628 Bitcoin (worth approximately $165 million), continuing a series of sales over the past seven months. According to blockchain data from Arkham cited by Lookonchain, these latest transfers to Crypto.com bring the company's total reported Bitcoin sales to 7,281 BTC (worth about $545 million), reducing its holdings by 63%. The company's remaining Bitcoin holdings now stand at 4,261 BTC, valued at $269.8 million. Trump Media initially purchased 11,542 BTC at an average price of $118,522 before beginning the sales. This activity occurs amid broader scrutiny of crypto ventures linked to former President Donald Trump, as lawmakers debate the CLARITY Act, which focuses on ethics rules, digital asset ownership, and potential conflicts of interest for public officials.

cointelegraph2 h fa

Trump Media sells another 2,628 BTC, holdings fall to 4,261 BTC

cointelegraph2 h fa

Trading

Spot