Monetha has found the support at 76.4% Fibonacci retracement level which has been rejected multiple times. And this week price managed to break above the downtrend trendline as well as 2/1 Gann Fan trendline.
This could result in the beginning of a correctional move upwards or perhaps a long term uptrend. The upside target is seen at 23.6% Fibs that is 3460 satoshis. When/if this target is reached, Monetha should be worth 3 times more against the Bitcoin.
On a downside, if MTH/BTC will break and close below 1000 satoshis psychological support, the consolidation could extend further, potentially sending price slightly lower.
This could result in the beginning of a correctional move upwards or perhaps a long term uptrend. The upside target is seen at 23.6% Fibs that is 3460 satoshis. When/if this target is reached, Monetha should be worth 3 times more against the Bitcoin.
On a downside, if MTH/BTC will break and close below 1000 satoshis psychological support, the consolidation could extend further, potentially sending price slightly lower.
Kommentera:
Second target 6k satoshis
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