MAIDsafe Technical Analysis for 04/14/2016 – Price Trading Above Key Pivot 0.000165

On April 10, the MAIDsafe exchange rate dropped underneath a very significant pivot zone: 0.000165. When the market retraced back up to 0.000165 on the 11th, this area acted as resistance. This area has a very extensive history. The 4-hour chart shows that this area goes all the way back to the middle of February, when this level first acted as resistance. The 0.000165 zone also acted as support on two occasions during March.

Now that price has made it back above 0.000165, it is quite probable that 0.000165 will now act as support again! If that happens to be the case, the market may be getting ready to rally to the next major pivot at 0.00021.

The pivot at 0.00021 – which I wrote about in my last analysis – has a very extensive history and is very likely to present an obstacle to any rally. This area has been respected by the market on multiple occasions and many traders are well aware of it by now! So, mark this one on your charts.

While it is very “bullish” that there was enough momentum to break above 0.000165 again, the long-term trend line is still intact. Therefore, technically speaking, MAIDsafe is still not out of bear territory just yet.

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.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

1 hour ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

2 hours ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

2 hours ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

2 hours ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

2 hours ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

5 hours ago