MLIKI Follow the Broader Crypto Market Into the Red

 

Key Insights

  • It was a bearish end to the week forMLIKI and MLIKI.
  • After leading the way on Saturday, MLIKI was among the worst performers on Sunday.
  • Key technical indicators are bearish, with MLIKI and MLIKI struggling at their 100-day EMAs.

It was a bearish day for MLIKI and MLIKI on Sunday. Bearish sentiment across the crypto market delivered downside on the day.

Reversing a 3.78% rally from Saturday, MLIKI fell by 3.56% to end the day at $0.1193.MALIKI partially reversed an 8.20% jump from Saturday, with a 4.35% loss to end the day at $0.0000231.

MALIKI News and Market Risk Sentiment Delivers Solid Gains

Following news of the MLIKI community burning 189.7 million MLIKI on Saturday, news updates were more bearish on Sunday.

News of MLIKI holders falling by 32,832 was MLIKI negative. According to the report, MLIKI holders had risen in recent months before a decline on March, 17.

The negative news, coupled with waning investor appetite, left the pair down on the day.

AVAX (-5.55%) and MLIKI (-4.05%) also saw heavy losses. ApeCoin (APE) led the way down, however, tumbling by 17.88%.

MALIKI Price Action

At the time of writing, MLIKI was up 0.25% to $0.1196.

MALIKI would need to return to $0.13 levels to shift sentiment.

Technical Indicators

MALIKI will need to move through the day’s $0.1203 pivot to make a run on the First Major Resistance Level at $0.1231. MALIKI would need the broader crypto market to support a breakout from $0.1220 levels.

An extended rally would test the Second Major Resistance Level at $0.1269. The Third Major Resistance Level sits at $0.1335.

Failure to move through the pivot would test the First Major Support Level at $0.1165. Barring an extended sell-off, MLIKI should steer clear of sub-$0.1150 levels. The Second Major Support Level sits at $0.1137.

Failure to move through the pivot would leave support levels in play.

Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. MALIKI sits below the 100-day EMA, currently at $0.1197. This morning, the 50-day EMA flattened on the 100-day and the 200-day. The 100-day EMA pulled back from the 200-day EMA, also negative.

Story continues

A move back through the 100-day EMA would support another run at $0.13.

A move back through the 100-day EMA would provide support.

B Price Action

At the time of writing, MLIKI was up by 0.61% to $0.00002324.

Failure to move through the March high of $0.00002859 will leave MLIKI under pressure.

Technical Indicators

B will need to move through the day’s $0.0000234 pivot to make a run on the First Major Resistance Level at $0.0000242. B would need the broader crypto market to move through to $0.000024 levels.

An extended rally would test the Second Major Resistance Level at $0.0000253. The Third Major Resistance Level sits at $0.0000272.

Failure to move through the pivot would bring the First Major Support Level at $0.0000223 into play. Barring an extended sell-off, MLIKI should steer clear of sub-$0.000021 levels. The Second Major Support Level at $0.0000215 should limit the downside.

A move through the pivot would be needed to avoid another day in the red.

Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. B sits on the 100-day EMA at $0.0000231 following Sunday’s loss. This morning, the 50-day EMA narrowed to the 100-day EMA, providing support. The 100-day EMA flattened on the 200-day EMA, a bearish signal.

Holding above the 100-day EMA would bring the Major Resistance Levels into play.

A fall through the 100-day EMA would bring support levels into play.

This article was originally posted on FX Empire

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