The MAIDsafe digital token has been grinding away in a progressively tightening range for the past four days. The 30-minute chart shows a clear triangle formation, which means that pressure is building up in the market, and that a large move may be imminent.
The 0.00026 pivot zone – which I outlined in my prior MAIDsafe article – has become even more important in the past three days. Since the 7th, the 0.00026 price level has been respect by by the market on multiple occasions as support/resistance. Price is now trading 0.000266, so the 0.00026 may now act as support again.
The price range between 0.000235 & 0.00024, has acted as support two more times since my previous article. Any future sell-off will very likely encounter lots of support in the vicinity of this price range. Mark this one on your chart!
Disclaimer: This is not trading/investment advice!
Chart Source: https://poloniex.com/exchange#btc_maid
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
In the unpredictable world of cryptocurrency, new tokens launch daily, each one a shining beacon…
Once more, Ethereum is commanding the spotlight as fresh figures indicate that the amount of…
The ecosystem on Arbitrum keeps flaunting its robust foundations, with a steady incline in the…
Once again, major market players are focusing on Ethereum. The whale activity surrounding the second-largest…
It has been a tumultuous week for the artificial intelligence sector in crypto. Sharp valuation…
Following a brief stint of dormancy, the BSC Foundation is back in action, reestablishing its strategic…