With Buyers Dominated, MXC Price Action Flashes Bullish Halving
The MXC token has been in an uptrend since September 29, but is consolidating in a symmetrical triangle pattern nowadays.
The MXC token saw its trading volume increase by over 30% during a wide range of accumulations.
For buyers, the 20-day moving average seems to be the short term support zone.
The RSI is forming a low-high after returning from the 75 mark - the start of an overbought zone and below a sloping trend line. The RSI peak is still above the halfway line, which could save MXC holders from a scary downside.
The MACD indicator is slowly sliding lower after a bearish crossover in the positive zone in terms of the daily price chart.
The uptrend trendline (blue) is an important hedge area for MXC holders. In any case if they lose this level they can witness bloodshed. Conversely, they hold the MXC token above the 0.618 Fibonacci retracement level, then they can recover from this symmetrical triangle pattern.
Support level - $0.094 and $0.080
Resistance level - $0.115 and $0.14
The MXC token saw its trading volume increase by over 30% during a wide range of accumulations.
For buyers, the 20-day moving average seems to be the short term support zone.
The RSI is forming a low-high after returning from the 75 mark - the start of an overbought zone and below a sloping trend line. The RSI peak is still above the halfway line, which could save MXC holders from a scary downside.
The MACD indicator is slowly sliding lower after a bearish crossover in the positive zone in terms of the daily price chart.
The uptrend trendline (blue) is an important hedge area for MXC holders. In any case if they lose this level they can witness bloodshed. Conversely, they hold the MXC token above the 0.618 Fibonacci retracement level, then they can recover from this symmetrical triangle pattern.
Support level - $0.094 and $0.080
Resistance level - $0.115 and $0.14
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