MAIDSafe Technical Analysis for 12/24/2015 – signs of support

MAIDsafecoin is back to early November levels before the rally up to 0.000049. The price is approaching some of the lowest levels seen by MAID. Whether its due to Bitcoin’s recent price surge or is a symptom of Altcoin’s decreasing popularity is up for discussion. However one fact is for certain, the development team is not slowing down and continues to work on improving the code.

Currently, the maidsafe team is working on preparing the network for launch and improving the application. According to the most recent developer update, the team has been improving the network’s routing, improving maidsafe’s crust – a framework of apis – in order to better benchmark the network, further working on the maidsafe client, and finally updating the maidsafe website.

In our last maidsafe technical analysis we mentioned how 0.000038 was a major pivot zone. It served as support back on October when the price climbed above those levels, a month later however it server as resistance as the price tumbled. Currently MAID is not only below the 0.000038 level but it is also below the 0.000034 level which held for a week. On the upside, we see major support at 0.00003 which proves that traders aren’t completely panic dumping. Furthermore, we have seen lower prices around the start of November as true panic ensued when the MAID touched a low of 0.000025.

maidsafe-ta-23

In times like these, when the price falls for no apparent reason, risky traders would often buy up cheap coins of an active project. On the other hand, you never know when whales might exit the market and cause a panic similar to the one in November.

Currently, MAID is trading at 0.00003105 after rebounding at the 0.00003 support level from the 13% drop. For more information about MAID visit their forum or blog. 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.

Disclaimer:  This is not trading/investment advice!

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

 

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