MOF continues to break out and move sideways - which way next?
Molecular Future is one of the assets owned by the giant Hyper Tech group the company behind HyperVerse (see my profile for details).
MOF has broken out several times over the past few weeks and then moved sideways.
Currently price is moving in a range between .001255 and .001011 and is contained below resistance at .001255 and a rising trendline from late February.
I expect the price to continue to move sideways for a while until it meets the 50 EMA.
The 50EMA may hold the key for where we go next with MOF.
Should the price breal north of the 50 EMA and take out .001255 then expect a run back towards .00149.
Should the 50 EMA drive the price south then we would need to see if the rising trendline offers support.
If this line breaks we are almost certainly headed much lower.
This is a highly speculative opinion but the charts have a more BULLISH than BEARISH feel but as ever its BITCOIN that drives the train and if BTC declines further then most digital assets will follow.
MOF has broken out several times over the past few weeks and then moved sideways.
Currently price is moving in a range between .001255 and .001011 and is contained below resistance at .001255 and a rising trendline from late February.
I expect the price to continue to move sideways for a while until it meets the 50 EMA.
The 50EMA may hold the key for where we go next with MOF.
Should the price breal north of the 50 EMA and take out .001255 then expect a run back towards .00149.
Should the 50 EMA drive the price south then we would need to see if the rising trendline offers support.
If this line breaks we are almost certainly headed much lower.
This is a highly speculative opinion but the charts have a more BULLISH than BEARISH feel but as ever its BITCOIN that drives the train and if BTC declines further then most digital assets will follow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.