Monaco (MCO) back to new strength
Updated
After a tough week for monaco holders and in my opinion an out of proportion dump.
MCO is coming back to new strength and has moved above the Kumo from 1m to 1h chart with a strong bullish move.
Current chart is 30m chart. Currently slightly getting overbought with this short term zoom in, but zooming out to 1D chart you see that MCO is still oversold at the moment.
Last weeks background:
There was a huge pump after the news of MCOs cooperation with VISA was confirmed.
Then the CEO gave a statement in which he said the asset contract would be removed from the token. The community answered with a major drop of which in my opinion was out of proportion.
MCO is still one of the pioneers of making cryptos spendable everywhere and the roll out starting in Singapore is just a beginning. 20k cards have already been reserved. I agree MCO at times had a sloppy start, but I am as sure that the current time will be the last time the token will be available that cheap almost for ICO prices.
I see MCO back around 8$ short term and longterm at least triple the current price.
The CEO confirmed they will also add another asset contract in the nearer future which will result in another price jump.
At the moment MCO is slowly but constantly climbing again and shows clear signs of reversal. Volumes are also rising again.
It is a healthy bullish move upwards without the pump and dumb that MCO had 3 times last week.
I think it is very good chance to go long, we are currently leaving the bottom and longterm the project behind MCO will be hyped surely once the cards will be rolled out internationally.
DMI confirms upward momentum and bulls getting power.
Short term there is resistance at about 7.20$ and then 7.66$
Within a few weeks there is also surely good money to be made here.
Today MCO is one of the winners already with + 12.5% and still moving strong
MCO is coming back to new strength and has moved above the Kumo from 1m to 1h chart with a strong bullish move.
Current chart is 30m chart. Currently slightly getting overbought with this short term zoom in, but zooming out to 1D chart you see that MCO is still oversold at the moment.
Last weeks background:
There was a huge pump after the news of MCOs cooperation with VISA was confirmed.
Then the CEO gave a statement in which he said the asset contract would be removed from the token. The community answered with a major drop of which in my opinion was out of proportion.
MCO is still one of the pioneers of making cryptos spendable everywhere and the roll out starting in Singapore is just a beginning. 20k cards have already been reserved. I agree MCO at times had a sloppy start, but I am as sure that the current time will be the last time the token will be available that cheap almost for ICO prices.
I see MCO back around 8$ short term and longterm at least triple the current price.
The CEO confirmed they will also add another asset contract in the nearer future which will result in another price jump.
At the moment MCO is slowly but constantly climbing again and shows clear signs of reversal. Volumes are also rising again.
It is a healthy bullish move upwards without the pump and dumb that MCO had 3 times last week.
I think it is very good chance to go long, we are currently leaving the bottom and longterm the project behind MCO will be hyped surely once the cards will be rolled out internationally.
DMI confirms upward momentum and bulls getting power.
Short term there is resistance at about 7.20$ and then 7.66$
Within a few weeks there is also surely good money to be made here.
Today MCO is one of the winners already with + 12.5% and still moving strong
Note
Target 1 reached, so 10% to be made since my post
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