However, if the price gets rejected at the blue resistance then MCO will get absolutely wrecked. FUBAR. ****** up beyond all recognition.
The price could plummet as low as $0.63. This of course would be catastrophic because it would severely damage the reputation of this asset.
Sure, it would be great to pick up tokens at a severely discounted rate. But, would it be worth it if in the process the token is categorized by the market as a pump in dump scheme?
Market makers would do well to remember that the SEC is targeting tokens where market manipulation is prevalent. And, it wouldn't surprise me to see salty investors reaching out to the SEC to file complaints regarding price manipulation.
Further, if you study this chart closely, it only suggests pump and dump activity. You don't really see healthy growth.
The point is, you don't want this token to plummet to the floor so that you can accumulate at a severe discount because that could jeopardize the reputation of this token within the crypto community.
Now, we need to see a daily candle close above the resistance and find support.