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.

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.

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.

Related Post

 

 

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.

Share
Published by
Traderman

Recent Posts

Top 5 DeFi Coins to Watch for 2022

The DeFi sector of cryptocurrency is valued at over $168 billion, with over $10 billion…

9 hours ago

AMC CEO Announces Plans to Accept Shiba Inu via Bitpay in the Next 2-3 Months

In a twitter post yesterday, Adam Aron, CEO of AMC Theaters, announced the company's plans…

13 hours ago

Loopring and Gamestop – What Is Up with These Two?

Loopring and Gamestop are two entities that, at first glance, seem very different. One is…

14 hours ago

The Safest Methods to Deposit into Online Gambling Accounts

The rise of online betting is plagued with inevitable setbacks. One of which is the…

14 hours ago

GenshinShibInu Price Up Over 3000% After PancakeSwap Listing

GenshinShibInu (GSHIB) is the latest meme coin that gained over 3000% in the past 24…

14 hours ago

Top 5 Hottest Metaverse Projects Right Now

As the Metaverse trend picks up, we see more and more emerging projects entering the…

16 hours ago

This website uses cookies.