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- Merit Circle is a Decentralized Autonomous Organization project that focuses on Web gaming. It includes play-2-earn (P2E). MC token is the native cryptocurrency of Merit Circle.
- MC was launched in September 2021 by Marco van den Heuvel.
- Let’s analyze the token with the help of technical indicators and gather some useful information about it.
The MC Token Technical Analysis
The token is moving in a down direction. Since it came into the market it is falling in the daily time frame analysis. Its F&I Index shows 44 (Fear). In the last 30 days, the coin recorded 12/30 green days. It is around 40%, which means the coin was slightly bearish. The current market sentiments of the coin are also bullish.
The chart shows the failure of the bearish candlestick pattern. The formation indicates that the price will continue to move in a downward movement. It is difficult to predict, whether it will go in the up or down direction. One of the reasons for the fall in the price of the MC coin was the crash in the price of BTC. Another reason is the bankruptcy of FTX which was one of the largest cryptocurrency exchanges which led to its fall.
Insight related to the MC coin
The market capitalization of MC is $151,458,121. It is ranked 157th out of all 9,092 cryptocurrencies listed on the Coin market cap. The Current circulating supply is around 432,178,791 MC which is 64.52% of the total supply. It is ranked 196th out of all 9,092 cryptocurrencies in the market by volume (24 Hours).
Its total supply in the market is 631,292,726 MC. Circulating supply means the total number of tokens available in the trade market. The market cap increased by 3.34%. Its total volume traded in the last 24 hours is $1,994,317, which decreased by 39.19%.
Price Prediction of MC (2024-2030)
| Year | Low | High |
| 2024 | $ 0.315436 | $ 0.831263 |
| 2025 | $ 0.703815 | $ 2.83 |
| 2026 | $ 0.782752 | $ 1.296215 |
| 2027 | $ 0.821407 | $ 2.03 |
| 2028 | $ 1.762214 | $ 1.990710 |
| 2029 | $ 1.901527 | $ 3.58 |
| 2030 | $ 2.03 | $ 2.56 |
Live chart
Conclusion
The MC coin was up by 13.08% in the last month, but it was also down by 0.99% in the last 7 days. MC is not good for short-term investment because it is in the downward direction. Investors should not also use it for the long run. In the long run it can continue its bear momentum.
Next year, it might rise by 133.76%. The price volatility is very high. So, the prediction can also fail.
Technical Levels
Resistance Level- $0.3456
Support Level- $0.2889
Disclaimer
This is a general article that does not provide any financial or investment information. Investors should focus on both technical analysis as well as fundamental analysis. The analysis is done to provide information to readers. To make them aware of investments.
