MAIDsafe Technical Analysis for 02/24/2016 – Divergence Is Showing On The Charts

Since bottoming out on the 18th of February at 0.0001, the MAIDsafe digital currency has recovered all the losses that were sustained during the large sell-off that took place on the 16th of this month.

The big question now is: will the trend continue?

While the higher time frames don’t show it, the 30-minute chart reveals that divergence is present on the MACD indicator. The divergence has been building up since yesterday, and this may be signaling that the trend is getting a bit exhausted. Price is also now trading right underneath the previous high at 0.000165, so this level may now act as resistance again!

MAIDsafe-technical-analysis-Feb24-4 MAIDsafe-technical-analysis-Feb24-3

 

If 0.000165 hold as resistance and there is a sell-off in the next few days, the 0.00145 level is the first pivot zone that will likely act as support. This level acted as resistance about three times between the 22nd and the 23rd, and another two times as support today.

MAIDsafe-technical-analysis-Feb24-2

There is another major pivot zone at between 0.000125-0.00013. This area has acted as support about four times, and also twice as resistance.

MAIDsafe-technical-analysis-Feb24

 

 

Disclaimer:  This is not trading/investment advice!

Chart Source: https://poloniex.com/exchange#btc_maid

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