MFT as posted on this site by Fintech Daddy was reported to be one of the best trades of the next two weeks. During the period in which the Fair Market MFT was released, we did see it drop to 74 Sats before being almost immediately brought up with several days later – Today – re-testing the 90 Sat line resistance.
We still have our initial outlook that we will see between 125 to 148 Sats – especially as there are no keen real fundamental news out coming about coins, especially those that are showcasing during ETHDenver.
The chart illustrates that we still see the following:
- Double Top at the 90 Sat line with lower time frames exhibiting strong price action usually indicating a break of the resistance level with the first test being at 92 Sats.
- Heavy Buy-side support around the 74 Sat and 90 Sat level with no further downtrend found.
- Accumulation on-going following the 74 Sat level bottom with a quick reversal immediately to 84 Sats – this lines up with analysis that shows there was heavy sell pressure to push the price down to 74 Sats before a large buy wall quickly ate up and brought up the price of MFT using Market Buy.
Levels to Watch:
- 92 Sats following a breakout of 90 Sats
- 78 Sats volume gap to be filled incase we see the same downtrend pattern that sees MFT quickly filled in this area.
- 102 Sats – Early December Local High and volume gap area filled.
- 110 sats – Area we saw MFT before the Great November Crash leading to a 20% decrease – heavy buy walls are in this area.
- 128 Sats – Being a key Take Profit Area.
- 140 Sats – Volume Gap and second Take Profit Area.
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