Don’t Miss Out on the Price Prediction for Morpheus Labs (MITX)!

Piper, a market analyst, provides a technical analysis of the cryptocurrency Morpheus Labs. The sentiment of buying outweighs selling, and the current value is $0.01851, with a market cap of $9.7 million. The MIT X USD chart indicates that the token is getting massive support on the Dynamic Reactor, however, its long base trend line, if rejected, could result in more downside. The trend-based FIB extensions show that if the token breaks through at the phase six resistance line, there is potential for it to come back up to $0.02661. The tight cloud on the oscillator suggests a possible run-up, with support and bounce from previous tightness.


Foreign hey guys Army Piper here welcoming back to your weekly Crypto TA exclusively for the Crypto Gym Hunters!

Morpheus Labs Sentiment Analysis

This week, we will take a close look specifically at Morpheus Labs. Starting off, we’ll check the sentiment analysis, which gives us an idea of whether the market is buying or selling. Currently, the sentiment is 80% positive and 20% negative. Morpheus Labs is currently valued at .01851 with a market cap of 9.7 million dollars.

Morpheus Labs Chart Analysis

Moving to the chart analysis, we are currently getting significant support from the Dynamic Reactor indicator, which works like a v-wop and a moving average combined. When we are below it, it typically plays out as resistance, but as soon as we broke above it, we tested it multiple times, and the trend continued upwards. However, we could expect more downside if we get rejected at the long base trend line, which is a cause for concern.

Predictive Range and Trend-based FIB Extensions

If we pull out the predictive range, we can see that we usually trade between the two gold bands. However, it looks like it shifted upwards from the Delta to the upper resistance line. Meanwhile, trend-based FIB extensions show that our initial golden pocket is where we can find support and resistance.

Trend Analysis and Resistance Points

Our trend analysis shows that we got support at phase 1 of the extension of the 618 golden pocket. We then came down to the original golden pocket of the first phase before ultimately getting a doji and a bearish engulfing candle. Furthermore, we have a downtrend of lower highs and lower lows. We need to break through at the phase six of our golden pockets, which has a crossing trend line, to come back up.

Tight Cloud Oscillator

Finally, we need to keep an eye on the tightness of the cloud in the oscillator. When it is tight, we tend to get rejection or support, depending on whether it’s above or below the zero line. We did get rejection previously with the evening star and dojis, but we also got support from the tightness back then. If we can get the action to play out, it could lead to upward momentum.

Join us again next week for another Crypto TA exclusive for the Crypto Gym Hunters!


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