Pay close attention to price action as the price nears the blue resistance. I cannot emphasize enough how important it is for the price to break above the blue resistance. It is crucial for the price to violently break the blue resistance and find support above it. If this happens, then the price can continue its journey upward.
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.
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Major resistance line broken!
Now, we need to see a daily candle close above the resistance and find support.
This should not be of relevance here because Monaco is after the real buying power - the masses. Cryptocurrency in EVERY wallet, right?
The only way price would get "rekt" is if there is no promised prosuct release in the upcoming weeks.
crypto_gunther
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@TheDomTorettoOfBinance, Agreed. The VISA cards must be released soon or investors will lose confidence in the team to produce results. It seems like the cards will be shipped to Asia very soon since white plastic testing has been completed. The next step is paperwork and using the card in the real world to test for bugs.
The only way price would get "rekt" is if there is no promised prosuct release in the upcoming weeks.