MAIDsafe Technical Analysis for 03/07/2016 – Trading Between Pivot Zones

The MAIDsafe digital token hit a high of 0.00026 on Feb 28, and this level has now become a prominent pivot area. The 0.00026 area has acted as resistance about three times so far. This level was also used as support yesterday. Price is currently trading right underneath this pivot zone, and if there isn’t enough buyers to move price above 0.00026 again, another sell-off towards the pivot at 0.000235 becomes likely.

MAIDsafe-technical-analysis-Mar7

The 30-minute chart gives a detailed view on the 0.000235 pivot. The 0.000235 level has been respected by the market on multiple occasions since the start of March; three times as support between the 3rd – 4th; twice as support in the past two days. Price is now sandwiched between 0.00026 and 0.000235. A break of either of these levels will determine which way the market will head in the near future.

MAIDsafe-technical-analysis-Mar7-2

The 0.000215 pivot – which I mentioned in my last MAIDsafe analysis article – has become even more significant now. Since that article, this area has been used four times as support.

MAIDsafe-technical-analysis-Mar7-3

 

 

Disclaimer:  This is not trading/investment advice!

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

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