MAIDsafe Technical Analysis for 05/30/2016 – 0.000119 Pivot Zone Turns Into Support

The MAIDsafe exchange rate is finally trading above the major pivot zone at 0.000119. Since the 27th, the market struggled to get above 0.000119; six times to be exact. However, that changed yesterday, when the price finally managed to break above 0.000119, with 0.000119 acting as support.

MAIDsafe-technical-analysis-May30

But there is another obstacle the market needs to overcome: 0.000125. Once price slipped underneath this area on May 24th, 0.000125 has acted as resistance on several occasions; multiple times on the 24th; again on the 28th; a third time on the 29th. If the market can break above 0.000125 in the same manner as 0.000119 was broken – a rally back up to the major pivot at 0.000145 would not be out of the question.

MAIDsafe-technical-analysis-May30-2

 

Disclaimer:  This is not trading/investment advice!

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

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