MAIDsafe started to rally quite vigorously on the 14th of February, and a high of 0.000177 was printed on the 16th. Since putting in that high, the market has retraced back down to where the rally initially began, and some clear pivot zones have emerged, particularly on the 30-minute chart. The 0.000125 level has become an important level from a technical perspective; acting as resistance on three occasions since the 11th; providing support twice on the 16th.
The 0.000105 pivot zone – which I wrote about in my prior MAIDsafe technical analysis – has become even more prominent. This level was used as resistance on three occasions since my last article, and another three times as support. The market is now grinding away in this zone and it’s quite clear that there is ample buying interest to counteract the selling pressure that has been dominating since yesterday.
MAIDSafe is now trading between support at 0.000105, and potential resistance at 0.000125. A break of either of these important price levels will signal the future direction of the market.
Disclaimer: This is not trading/investment advice!
Chart Source: https://poloniex.com/exchange#btc_maid
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