- The MAPS price has been making a sideways movement for the last two months.
- MAPS is trading at $0.030 with an intraday repulse of 1.3%.
- The token is down by 98.52% from the all-time high.
The price of the MAPS token has been making a sideways movement for the last two months. It marked its yearly high of $0.09 in the middle of January. The price has reduced by 75% since its yearly high. During this lateral movement, the price has been trading between $0.027 and $0.033.
The MAPS token marked an all-time high on 3rd May 2021 when it was priced at $2.06.
The token is presently trading with a surge of 3% in the trading volume in the last 24 hours.
It has a present market capitalization of $1.36 Million. The current circulating supply of the token is 45.49 Million which is just 0.45% of the total supply. The 24-hour trading volume of the token is 132.36K.
Technical Analysis Of MAPS ( Daily-1D )
The chart shows that the price is presently moving sideways. The last time the price gave a bullish move was in the month of July when the token touched the $0.06 level. After that, the price came down again to the support zone between $0.025 and $0.029.
The price can only rise from here if the volume gets a good increase and the demand of the token rises. Currently, only 0.45% of the total supply is circulating in the market, which is also a reason why the price is bearish.
Additionally, the price is likely to take support from the $0.025 to $0.029 levels and if the price breaks the resistance of $0.033 and sustains above it, then it can reach $0.046.
However, If the volume does not increase and the price gets rejected again from the $0.033 resistance, then it can fall again into the support zone between $0.025 and $0.029 and even lower to the level of $0.023.
What Indicators Say About MAPS Price
Relative Strength Index (RSI)
The RSI line is presently moving at 48.47 points and the SMA 14 is moving at 50.01 points. Both are close to the neutral level of 50. The RSI is presently on the neutral side, showing a sideways movement.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average is moving above the red slow line moving average. The histogram is showing low volumes, which is a bearish sign for the price. Volumes have to increase for an upward move.
MAPS LIVE CHART
Conclusion
The present scenario of the MAPS price shows that the token can only make a bullish move when both the volume and the demand of the token increases. However, If the volume stays the same and the demand does not increase, then the price may continue moving sideways or turn bearish.
Technical Levels
- Support: $0.025 to $0.029 and $0.023
- Resistance: $0.033 and $0.046
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.