MAIDsafe Technical Analysis for 05/16/2016 – Price Approaching Major Pivot Zone at 0.000128

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.

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

Qubetics Raises $7.5M with 372M Tokens Sold; Cosmos and Polygon Gain Traction

Best Cryptos to Buy Now as Qubetics Wallet Fuels $7.5M Presale with 372M Tokens Sold…

11 mins ago

Crypto Insiders Are Bullish on XRP, Solana, and JetBolt: Here’s Why

The buzz surrounding XRP, Solana (SOL), and JetBolt (JBOLT) continues to captivate the crypto community.…

4 hours ago

BDAG Bonus Reveals 6th Mystery Chest; Litecoin & Ethereum See Surge

Buyers Pour Millions into BlockDAG as its ‘6th Mystery Chest’ Goes Viral! More on Ethereum…

5 hours ago

Web3Bay, Solana & Tron: Leading the Utility Coin Revolution

The Next Big Crypto Projects: Why You Should Add Web3Bay, Solana, & Tron to Your…

8 hours ago

Last Chance Alert: Join the Best Crypto Presale Now for Top 7 Trending Cryptos

Imagine securing a stake in the next big cryptocurrency before it skyrockets. A chance investors…

8 hours ago

Remittix (RTX) Set To Surpass Ripple (XRP) In 2025 With The Dawn Of PayFi—5000% Rally Expected

Ripple (XRP) has certainly been around the crypto market long enough for anyone to have…

8 hours ago