Taking an objective look at how I think the next few days will unfold for $MTL
Metal just released their alpha wallet. It's amazing, check it out if you haven't already. Either way, it's coming to some odd endings right now. Hopefully it breaks upward.
Based on the Ichimoku, very strong resistance is in 170k sats range, if its broken, MTL will be on a strong uptrend.
Analisys based in Extension fib from suposed 1º wave on MTL BTC
Head and shoulders pattern caused a heavy correction, but target price have been reached. Combine that with the bounce over the 120k sats support and the .786 fib retracement, and we already have solid basics for stating the correction's end. Downtrend can't be defined over yet though, as both price and momentum are still pointing downwards. Remember also the BTC...
Strong support at 174, posible way up to ~233 or, if support will broke up, to ~140
MTL has been following a falling wedge for a while. It should break the wedge soon and start a bull run, probably when BTC does. The 1 day Stoch RSI is nearing oversold territory. The 4 hr is overbought. MTL may bounce off its long term support around 1828 satoshi, but if it follows the wedge and lets the RSI come all the way down first it could easily reach 1748...
I have found a rule of MTL's moving in the past, if this still works in the future, then its next path could be this. Maybe it will not be as sharp as the line, but the shape is like that.
It's not clear actually. It's on support for now but a bearish turn or bearish trap may come. Volume is the key value and Stop-loss is very important for this days. If bounce will happen the arrows be our way.
- Reduced BB gap - Touching down BB support - Descending triangle closing - Going to test the last ATH?
We're still on the red line. Needs to break 220 first. Possible short term target 240k and 250k.
Some great news arrived for $MTL. Price spikes up and we could see another leg up soon. Before entering wait for a retrace on 0.5 or 0.682 fib level, i.e. 225-230k sat. If the price doesn't drop below we could hit 260k.
Looks like we are back on the uptrend support with Metal. A coin which has been on this strong and visible uptrend since the 3rd day after being listed on Bittrex. Metal has strong fundamentals, a clear and visible uptrend channel which we are on the bottom of also a good buying point. When we look at similar cryptocurrencies such as MCOBTC we can see the visible...
Metal coin is on a correction phase of an uptrend. Limit order as described (with a stop loss in place). Target when it reaches upper channel as shown. GL.