The 0.000105 pivot area continues to be a dominant price level on the MAIDsafe charts. On the 14th, 0.000105 acted as support for a third time.
Since bouncing off 0.00015, price has been rallying and is now approaching another major pivot area that may cause some problems: 0.000128, which was outlined in two of my previous MAIDsafe articles (05/09/2016 & 05/04/2016). Before I go any further, I would like to bring your attention to the price action on the 15-minute chart for the 10th of May, which clearly shows the 0.000128 area acting as resistance. Even though price spiked several times beyond 0.000128; the market could not stay above this level for any length of time.
Price is now approaching this level for the first time since the 10th, so it’s quite likely that 0.000128 will present an obstacle, given its prior history. In fact, the whole price range between 0.000128-0.00013 is one giant pivot zone. Every trader should keep an eye on this very important technical range.
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.
Ethereum co-founder Vitalik Buterin is once again channeling personal capital into the long-term foundations of…
Lido Finance has officially activated Lido V3 on the Ethereum mainnet, introducing a powerful new…
Bitcoin tumbled to around $83,500, marking its lowest level in over a month and triggering…
The Zero Knowledge Proof (ZKP) presale auction has officially entered Stage 2, and for anyone…
Ethereum has announced that ERC-8004, a new token standard designed for AI agents, is heading…
Tokenized U.S. Treasuries from Ondo Finance are now live on the Sei Network, marking a…