SPONSORED ARTICLE: Tech Analysis articles are sponsored by SimpleFX - Simple as Never Before,
SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers simple and transparent trading conditions.
MobileGo has staged strong gains against bitcoin and ether as rival cryptocurrencies appear to be attracting more investor interest in the past few days.
MobileGo vs. Bitcoin
On the short-term time frame, it can be seen that MobileGo has completed a pullback from its recent rally against bitcoin and looks ready to resume the climb. Price bounced off support at 0.00023 and is on its way to testing the swing high at 0.00024.
Zooming out to a longer-term time frame shows that MobileGo has formed higher lows against bitcoin, also indicative of rising bullish pressure. Support at 0.00020 continued to hold and a break past the nearby area of interest at 0.00025 could send price up to the next barrier at 0.00030 then to 0.00035. Volume has been higher in the past week.
MobileGo vs. ETH
Similar to bitcoin, MobileGo has also advanced against ethereum after completing the pullback to 0.0029. This area appears to be holding as support as reversal candlesticks formed.
Sustained upside momentum could take MobileGo up to the highs just slightly past 0.0030. Volume is also elevated so there may be enough investor interest to take it higher, but a larger pullback could still find support at 0.0027.
Zooming out to a longer-term time frame, however, reveals that the downtrend still seems intact for ethereum. Price is channeling lower and has formed slightly lower lows to show that bears could still have a fighting chance.
Keep in mind that ethereum is taking advantage of the dip in bitcoin interest as traders are wary of incompatibility issues arising from the existence of bitcoin cash. Just recently, it was reported that this rival version is gaining more mining power and therefore investor interest.
MobileGo vs. USD
Against the dollar, MobileGo could also be poised for some gains as the US currency is currently being bogged down by concerns surrounding Hurricane Harvey and the disruption on oil refinery operations. This has also led analysts to predict a sizeable dent on Q3 growth figures.
However, the upcoming NFP release could have a strong impact on USD movement later in the week as this might set the tone for the next FOMC meeting.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://myinforms.com/en-us/a/680096080-mobilego-price-technical-analysis-for-08292017--major-reversals-underway/
Nice blog. Interesting to see I'm not the only one that is thinking about this. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. I really advice people to take a look at: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. See: https://www.coincheckup.com/coins/MobileGo#analysis To see the: MobileGo Investment research report.