Measurable Data Token (MDT) price has took a u turn after a strong surge in its previous session. On Wednesday, MDT crypto price crashed 40% as the investors dumped their coins amid a shaky Bitcoin price action.
However, the negative price action appears to be fueled more by the whale manipulation than the broader market sentiment. Such pumps and dumps are not new to crypto. If you’ve been in crypto trading for a while, you must have fallen for such moves.
At press time, the Measurable Data Token was still down 36% as it stood at $0.064 after a brief recovery from the daily lows of $0.0622. The move follows a 27% pump on Tuesday which has now been fully retraced.
A look at the MDT/USD price chart shows that the pair broke above the $0.085 resistance yesterday but the move turned out to be just a fakeout. This took many crypto traders off guard who bought the coin in anticipation of a bullish continuation.
If the selling pressure sustains, the coin might retest the 200 MA around $0.046 soon. This will be almost another 20% correction from current price.
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This post was last modified on Nov 29, 2023, 22:04 GMT 22:04