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Yes, the magic resistance should be level 3 or 2, probably. Here's my suggestion and development:
Water resistance - protection against the water element and slashing weapons
Air resistance - protection against the air element and arrows
Earth resistance - protection against the earth element and other types of weapons (claws, drake's breath, dendroid logs, unicorn horn, etc.)
Fire resistance - protection against the fire element and "negative" magic (curses)
Suggestion regarding the effect of spells:
1) The spell protects for X% for Y turns
2) The spell absorbs Z damage (absorption is calculated using a simple formula)
P.S.: 3DogMZA, I'm attaching pictures so you can get an idea of how the spells could work... of course, they can be adjusted to match the elements....

Water resistance - protection against the water element and slashing weapons
Air resistance - protection against the air element and arrows
Earth resistance - protection against the earth element and other types of weapons (claws, drake's breath, dendroid logs, unicorn horn, etc.)
Fire resistance - protection against the fire element and "negative" magic (curses)
Suggestion regarding the effect of spells:
1) The spell protects for X% for Y turns
2) The spell absorbs Z damage (absorption is calculated using a simple formula)
P.S.: 3DogMZA, I'm attaching pictures so you can get an idea of how the spells could work... of course, they can be adjusted to match the elements....


