MCO Technical Analysis - June Price Mirrors Fundamental Advancements
During the first week of the month, we released “Coins to watch out for this month” exclusively for our members, with the main focus on fundamentals. One of the coins mentioned was MCO, Crypto.com's ERC-20 token.
Crypto.com is massively helping global cryptocurrency adoption with their mobile-application and their MCO Visa cards. So far, the Visa card was only available in Singapore. However, an announcement was made stating the U.S MCO Visa card launch date, between 7th-14th of July 2019.
The report was released when MCO was trading at $5.82, it is currently trading at $7.31 (25%+). The crypto-asset had broken out from the [$5.5-$6] region and was in the process of retesting that area for support. After multiple retests and a boost from fundamentals, it was able to top at $8 in less than a day.
The next target for the asset is the $9 region, beyond which it can extend to [$12.5-$13.5]. Conversely, if the current support surprises us and breaks, $4.5 will be likely.
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