Metal Pay found the support at 26k satoshi and started to move higher. It broke above the downtrend trendline as well as 200 Moving average. The corrective wave down followed and it went back to test the downtrend trendline and MA, but this time as a support.
Clearly, this support has been rejected, which could indicate that MTL/BTC is now ready to move higher. The very strong resistance is seen at 140k satoshi where two Fibonacci retracement levels are inline. First is the 76.4% level of the Fibonacci applied through the last wave down, and the 38.2% level of the Fibs applied through all time high.
If/when Metal Pay will reach the target, it would more than double against Bitcoin. On a downside note, only a break below the 26k satoshi could invalidate bullish outlook.
Clearly, this support has been rejected, which could indicate that MTL/BTC is now ready to move higher. The very strong resistance is seen at 140k satoshi where two Fibonacci retracement levels are inline. First is the 76.4% level of the Fibonacci applied through the last wave down, and the 38.2% level of the Fibs applied through all time high.
If/when Metal Pay will reach the target, it would more than double against Bitcoin. On a downside note, only a break below the 26k satoshi could invalidate bullish outlook.
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Metal rejected the trendline!
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Metal rejected trendline again
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Metal will be delisted from Bittrex on the 12th of Jan