Issued on: 29th Jun’23
Valid upto: 04th July’23
Token: MTL
Category: Payments
Market Cap: $84 Million
Circulating Supply: 66,588,888
Total Supply: 66,588,888
Price Update:
MTL price at the time of writing (29th June, 13:40) is $1.27, with a 24-hour volume increased by 95.98% to $34 Million. CFX price is up by 3.45% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- In the 4-hour time frame, MTL has found support at 0.618 Fibonacci level (around $1.2 ), which is also the 55 EMA Daily Support level. MTL bounced back from that level and is in an upward trend.
- MTL looks done with the correction and it also broke out of the downward channel pattern with a retest.
- In the 1-day time frame, MTL is trading above 55 & 99 EMA. This suggests a positive momentum.
- There has been a noticeable increase in trading volume in MTL, confirming bullishness.
- A Long Trading strategy can be assessed between $1.256-$1.280 with invalidation below $1.190
- On the upside, one can see a rise of 10-12% toward $1.352 & $1.412
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: MTL is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade MTL in Futures Market at CoinDCX
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