Tech

MobileCoin Price Prediction: MOB Spikes 22% In 24 Hours

12/15/2022
Bitcoin Ethereum News

Join Our Telegram channel to stay up to date on breaking news coverage

MobileCoin (MOB) was one of the crypto assets posting impressive gains on Thursday, after a strong move on the upside. Mobilecoin price is up more than 22% in the past 24 hours from lows around $0.887 to the current price at $1.089. This followed a wave of bullish moves across the board with Bitcoin breaking above $18,000 for the first time in more than 30 days on Wednesday. Equities also showed signs of recovery with the S&P 500 futures index rising 3% in 72 hours.

MobileCoin Price Needs To Hold The 200 SMA To Sustain The Uptrend

MOB’s recent price uptick saw it flip all the major moving averages back into the support. The current price prediction for MobileCoin price is bullish but to secure the upside, the bulls need to aggressively defend the support provided by the 200-day Simple Moving Average (SMA) currently sitting at $1.06. 

If they succeed, the token of the privacy-focused global payments blockchain network MobileCoin could climb higher before running into resistance posed by the $1.40 psychological level. Other roadblocks could emerge from the SuperTrend’s red line at $1.479 and the $1.8 supply zone, before rising to reach the November 28 high around $1.83. Such a move would constitute a 68% ascent from the current price. 

MOB/USD Daily Chart

MobileCoin Price Chart - Dec 15
TradingView Chart: MOB/USD

Note that the MBO/USD pair displayed a similar price action when it bounced off the $0.55 support floor on November 26, reaching highs of $3.78 on the same day. This marked a 500% spike, the highest single-day gains made by the token following news that Elon Musk’s Twitter 2.0 would use Mobilecoin’s Signal Protocol for encrypted private messaging, and code in its IOS APP. 

Apart from the robust support provided by the moving averages on the downside, the sharp upward movement of the Stochastic RSI away from the oversold region suggested that the buyers had begun taking control of the Mobilecoin price. 

In addition, the price was trading above a stubborn descending trendline that had suppressed MOB for more than two weeks. Moreover, the moving averages were about to send a bullish cross as shown on the daily chart. Though not a golden cross, once the 50-day SMA crosses above the 100-day SMA, it would imply that the bullish momentum is gaining traction, giving the buyers the oomph they need to push the price higher. 

On the flipside, the SuperTrend indicator was still negative since turning red and moving above the price on December 10. This is an indication that the market sentiment is still negative and as long as this chart overlay indicator continues to close above the price, the ongoing correction may continue for a while.

Therefore, a daily  candlestick close below the 200-day SMA at $1.06, coinciding with the SuperTrend’s green line, could see the price drop to tag the $0.887 support zone, where the 50-day and 100-day SMAs lie. A drop below this level would trigger massive sell orders that could take the Mobilecoin price toward the $0.55 defense line.

Effects Of FTX Collapse Continue To Spread In The Market

Crypto prices are usually negatively impacted during a bear market due to the prevailing sentiments brought about by newsflow. Increased negative sentiments are due to news that include reports on filing in a court in the United States showing “unfair” trading advantage for the SBF-linked Alameda Research. 

According to the  U.S. Commodities Futures Trading Commission (CFTC), Alameda Research had faster trading execution times and an exemption from FTX exchange’s “auto-liquidation risk management process.”

More news in the crypto space are around SBF’s arrest, potential lawsuit against the largest crypto exchange Binance, for allegedly violating Anti-Money Laundering laws in 2018, and Elizabeth Warren’s plan to introduce a bicameral bill to combat crypto money laundering.

Moving forward, the crypto market’s best scenario requires a pump above $1 trillion in global market capitalization. This seems impossible in the short term considering the lingering regulatory and FTX contagion risks. For now, investors can look at alternative tokens which can guarantee handsome returns even as we go into the new year. Some of these new tokens are discussed next.

Dash 2 Trade (D2T) – Best New Crypto Trading Platform

If you are interested in investing in a promising crypto trading platform start-up, look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $9.7 million with 99.8% of the tokens sold in stage 3 of the presale. $400,000 has been raised in the past 24 hours alone! 

The presale dashboard is going to be released on Friday, with the D2T development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.

Visit Dash 2 Trade here

Calvaria (RIA) – Best New P2E Game Token

Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria is an up-coming play-to-earn battle card game that could be a good alternative for crypto gaming enthusiasts. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.

Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.44 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 21% of tokens left.

Visit Calvaria Now

Read More:

FightOut (FGHT) – Newest Move to Earn Project

FightOut token
  • Early Stage Presale Live Now
  • Earn Free Crypto & Meet Fitness Goals
  • KYC Verified by CoinSniper
  • LBank Labs Project
  • Partnered with Transak, Block Media
  • Staking Rewards & Bonuses

FightOut token


Join Our Telegram channel to stay up to date on breaking news coverage

Source: https://insidebitcoins.com/news/mobilecoin-price-prediction-mob-spikes-22-in-24-hours-time-to-buy