Following the previous idea on Monaco Coin, it broke above the range zone, that was between $5 and $10. After breaking above $10 major resistance area price reached $19 and corrected back to the $10 support that has been rejected.
MCO/USD continued to trading within the $10-20 range where $10 was rejected twice. At the same time Monaco Coin continues to trade above the 200 Moving Average and at this point, the uptrend is likely to continue.
Major resistance levels are at $56 and $63 which are inline with two Fibonacci retracement levels, this means that the gain of the potential wave up could be over 300%. Only break and close below the $5 support could invalidate bullish outlook.
MCO/USD continued to trading within the $10-20 range where $10 was rejected twice. At the same time Monaco Coin continues to trade above the 200 Moving Average and at this point, the uptrend is likely to continue.
Major resistance levels are at $56 and $63 which are inline with two Fibonacci retracement levels, this means that the gain of the potential wave up could be over 300%. Only break and close below the $5 support could invalidate bullish outlook.
Comment:
Get ready for a rally