- MCB was trading at $12.35 while witnessing a surge of 8.20% in the intraday session.
- Its price is following a bullish trendline while making new higher highs.
MCDEX is now renamed as “MUX Protocol” a decentralized exchange (DEX) for futures created on the Ethereum layer-two scaling solution Arbitrum and Binance Smart Chain. As per the MCDEX team, it was developed to range censorship resistance, security, and self-custody. Trading is permissionless, which means anyone can trade, provide liquidity, or create new markets at will.
The MCB coin started to move on the bullish trendline after taking support from the level of $6.87 to $7.37. It ended its bearish movement at the end of August. Since the start of its bullish movement, the price has given an upward movement of almost 80%.
The price also gave a fake pump on 2nd November, where the price went up to $17.31 but soon the bears pushed the price down and the price closed at $12.56. The price is presently facing a rejection from the resistance level of $12.64 to $13.27.
The present circulating supply of the token is 3.82 Million MCB. Its daily trading volume has grown by 44% in the last 24 hours. The current market capitalization of MCB is $48.27 Million.
Sentiment Analysis
The total volume of the token within a week has decreased by 17.4%. Social engagements have been showing a rise of 52.38%. The bullish sentiments have dropped by 16% as the price got a fake pump and soon it started getting rejected.
Its daily volume has started to increase, which shows that the price might start going bullish. The token’s price has also increased by 18.51% in a week.
Technical Analysis Of MCB Token (Daily-1D)
The MCB token’s volume has started to increase and the price is trading near the resistance zone of $12.64 to $13.27. The bulls are ready to take the price upside and get above the resistance and the next target for the price will be the $15.21 to $15.88 range.
The price might also come down to take support from the trendline and then continue making its higher highs.
However, If the price gets successfully rejected from the resistance level of $12.64 to $13.27 and starts coming down, the next support for the price will be at the support level of $9.91 to $10.51 and further support at the 50-day EMA.
Also, The price can give a fake pump and get volatile. So, be aware before taking any trades and investing any amount of money.
Indicators About The Price Of the MCB Token
Relative Strength Index (RSI)
The RSI has reached the overbought region and as the pressure of selling has started, the price is getting a rejection. The price might come down for the correction in the RSI levels. Bullish strength is still present in the market. The present value of the RSI is 75.41 points.
Stochastic RSI
The stochastic RSI also shows that the price has entered extremes of the overbought region from where it will come down for a correction with the price. The Stoch RSI is presently moving at 93.55 points.
MCB LIVE CHART
Conclusion
The MCB token’s price can come down for a correction in the RSI levels. However, If the volume rises and the bulls come into action, the price will cross above the resistance level of $12.64 to $13.27. Also, the price can come down to the trendline to take its support and continue its bullish movement.
Technical Levels
Support Level: $9.91 to $10.51, $8.49 to $8.94 and $6.37 to $7.37
Resistance Level: $12.64 to 13.27 and $15.21 to $15.88
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.