MXC price has recovered an important level around $ 0.0040 and keeps holding above, possibly printing a higher layer and keeping it on the right track to resume the upward trend.
Moonchain (MXC) has risen 70% in the last 24 hours and currently acts at $ 0.0042. The token returns strongly after a sharp withdrawal to $ 0.0023, after a parabolic rally that saw its price rise from around $ 0.0010 to a peak of $ 0.0061 in just two days – a 500%+ profit. The trade volume is still increased compared to the pre-breakout levels, which indicates sustainable interest and the potential for continuous volatility.
Looking at the 4-hour hour graph, MXC Price recently recently recovered the EMA 20 and keeps it good to it while the advancing average starts up to hell-a bullish board. With the latest explosive movement, it also reclaimed an important level at around $ 0.0040, with a high point of $ 0.0048. At the time of the press it retains this level of $ 0.0040, a former resistance of an earlier Swing High that has now been reversed.
The current structure suggests the formation of a higher low one, which indicates a possible continuation of the upward trend as the momentum and the purchasing pressure persist.
The immediate resistance to view is $ 0.0048 – the intraday peak from earlier today, so that a potential new swing is high in the Uptrend market structure. A decisive movement above this level, would open the door for a push in the direction of the next resistance at $ 0.0051, an earlier rejection zone during the Late May meeting for the second stage to the peak of $ 0.0061.
If $ 0.0048 marks the newest swing high, the potential higher layer can form somewhere around the level of $ 0.0040. However, there is still a chance that the newest 4-hour candle closes higher, which could mark a higher swing high, possibly about $ 0.0051.
