Market Analysis - 15th Jan 2021

Daily timeframe analysis
Blue = 100 EMA
Black = 200 EMA
Red box= Resistance Level
Green box = Support Level
*Where green and red combines is a major Price reversal zone / Dynamic Support/Resistance

We have seen in the past few days Maha has seen a beautiful correction of about 50%, which also led to healthy price action from the traders perspective. As you guys can see I added the 100 EMA (Blue) alongside 200 EMA and a prefect retest of EMA’s is showing strength to the upside. Both EMA’s fall in that psychological zone mentioned in the past ($5)

You can see with the Fib Extension the .618 and .786 fall directly within that MAJOR Fundamental Resistance of $15-$18

Key psychological zones to look out for
$5.00 we already retested this since previous post
$10.00 we tested it but failed to break higher
$15.00 yet to see price action in this zone over last 6-8 months

Whiles Maha is trading above both EMA’s the next days/weeks is going to be very interesting with the cross of the 100 and 200 EMA’s. Staking has recently launched and with roughly about 25% of all circulating supply locked up this is a good sign to be bullish on the project and many of the investor are in for the long haul. In addition MahaChain(testnet) is expected to be released in Q1 of 2022 as well.