CoinDCX Lists New Futures Trading Pair: MTL/USDT – Trade Now!

Key Takeaways:

• MTL is a crypto that has been stuck within a range for the past five months but is showing some scope for recovery in the rest of 2023.
• With the king coin, Bitcoin sustaining above $30,000 amid positive news across the globe, MTL also rallied over 35% since mid-June 2023.
• $1.35 will serve as crucial resistance levels for this particular crypto asset as we advance, and if we see a breakout, this level will be flipped into a support level.

Read More: CoinDCX New Futures Trading Pair: 1inch/USDT

MTL/USDT Price Analysis

MTL/USDT | Source: TradingView

• MTL is a token that has been stuck within a range ever since the month of February 2023, between $0.9 to $1.35, as marked by the parallel channel on the chart.
• MTL price did see a nearly 140% rally early in January, but since then, it hasn’t been able to breach past the $1.35 level despite multiple attempts and even touched the $1.6 level several times.
• Currently, MTL’s price is attempting to breach the $1.35 resistance level, which has held strong, despite multiple attempts to breach it. In case MTL price is able to breach the $1.35 mark convincingly and sustain above it, we could see fresh bullish action coming back into the market.
• But on the other hand, the Relative Strength Index, currently at about 56, presents an optimistic bullish situation for the token at current levels too.
• MTL price is also trading above the 50-day and 200-day exponential moving average, which would support bullish sentiment going forward in the future too.

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MTL 2023 Price Prediction

From a purely technical point of view, MTL price is reasonably well positioned to break out above the $1.35 mark, if the overall sentiments remain positive in the market. However, if it is not able to convincingly breakout from the $1.35 mark, then MTL price will remain stuck in the consolidation zone marked in the chart above. If the broader market gains some bullishness overall, we could possibly see some pullback rally in the rest of the year.