MOVIEBLOC (MBLUSDT) ⚠️ The One Alt Setup Everyone May Be Missing
💬 MBL looks like it is gearing up for a run. There are a few things that look promising here. First, price has generally been moving up since May when it began to break its bottom range and started forming these higher lows. Second, and more importantly, the price has been grinding up in a solid and steady uptrend as highlighted in the Yellow box. Betting on a retest of upper resistance could be profitable given the current price action, while a breakout of R2 resistance could bring substantial upside but we are not concerned with anything that euphoric.
Let's look at some levels.
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Support:
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Summary:
MovieBloc might not be the project on everyone's minds, but this chart looks good. Front running S1 with a target just below the R2 Orderblock makes a lot of sense. Although with that said, the recent strength has us wondering if MBL won't just keep running past R2 once it gets there, only time will tell. Good luck everyone and ensure you are practicing proper risk mitigation!
Resources:[/I]
coinmarketcap.com/currencies/moviebloc/social/
✨Drop a comment asking for an update, we do NEW setups every day!✨
Let's look at some levels.
Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣
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Support:
- S1: The S1 Orderblock is where we'll want to find support for this chart to keep standing out. Retesting above or at S1 keeps our higher lows intact while showing strength by respecting a pre-established support level. More than a wick below this level would make this chart uninteresting.
Resistance: - R1: The first point of resistance is the R1 range highs which can be seen acting as somewhat of a pivot point for price right now. Failing to break this level could be a bad look given the amount of times it has been tested, although as noted we can still find footing at S1 if needed. So a rejection at R1 that brings us to S1 before a move up is not only nothing to worry about, it is ideal for catching an entry.
- R2: Our target and the most likely place to find resistance on the chart is the R2 Oderblock range at the previous distribution top.
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Summary:
MovieBloc might not be the project on everyone's minds, but this chart looks good. Front running S1 with a target just below the R2 Orderblock makes a lot of sense. Although with that said, the recent strength has us wondering if MBL won't just keep running past R2 once it gets there, only time will tell. Good luck everyone and ensure you are practicing proper risk mitigation!
Resources:[/I]
coinmarketcap.com/currencies/moviebloc/social/
✨Drop a comment asking for an update, we do NEW setups every day!✨
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