MobileGo is holding its ground against bitcoin and seems to be exhibiting more upside momentum against ethereum and the US dollar.
MobileGo vs. Bitcoin
MobileGo is still in consolidation mode against bitcoin, but it seems to be coming off its lows. Bitcoin has also been treading mostly sideways recently as traders are holding out for the next big catalyst.
Volume has picked up at the end of June, likely due to profit-taking, but the subdued action could persist for a couple more days as the July 4th long weekend might keep volatility in check.
MobileGo vs. Ethereum
MobileGo has bounced off the 0.005 level against ethereum and is trying to gain some traction in its climb. Price has yet to break past the 0.0006 barrier before gaining more momentum, possibly taking it up to the 0.0007 area of interest next.
Volume has also picked up at the end of June and onto the weekend but this has failed to generate any big price breakouts. Ethereum has been weighed down by the flash crash in GDAX earlier last month.
MobileGo vs. USD
Lastly, MobileGo continues to rake in more gains against the dollar recently, pausing for a quick pullback off its recent short-term rally. A larger dip could still find support at 1.2 before heading back up, but a break below these lows could signal that sellers are back in control.
Volume is considerably lower for this one, though, as US traders are enjoying the long weekend for now. Profit-taking was evident at the end of the month and quarter, and traders are likely holding out for this week’s set of top-tier data from the US economy.
In particular, the NFP report is up for release on Friday and this should provide a good indication of how Fed policy could turn out in the second half of this year. Another dismal read could weigh on rate hike prospects, especially since inflation has yet to show some follow-through and the central bank will be unwinding its balance sheet holdings as well.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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