- February 1, 2023
- Posted by: Tradingshot Articles
- Category: Uncategorized
The GensoKishi Metaverse (MVUSD) broke today above its 1D MA200 (orange trend-line) for the first time in history after making a rebound on the 1D MA50 (blue trend-line). We are not getting excited yet as the price remains within the Channel Down pattern that started after the August 23 2022 Low.
A break above the Channel Down will be a bullish signal for us, targeting the 0.38500 – 0.4200 Resistance Zone. On the other hand, a rejection will first target the 1D MA50 again and if it fails, then the December 31 bottom.
We have to point out that the 1W RSI clearly shows that the bullish strength is gaining considerably.