Major Coin Price Movement and Volume:
The price action shows a strong upward rally that peaked near $4.30. This indicates a strong buying interest that drove the price upwards. However, there was a subsequent correction as selling pressure emerged.
The trading volume during the initial spike was significant, suggesting active participation from buyers. However, the recent consolidation phase has been characterized by lower volume, indicating less aggressive trading activity.
Major Coin Support and Resistance Levels:
The key support level for MAJOR appears to be around the $2.80 mark, as seen from multiple attempts by the price to stay above this level.
The resistance seems to be around $3.40-$3.50, which the price tried to breach but was rejected multiple times.
The current level of $3.08 suggests that the price is in a consolidation zone between the support of $2.80 and resistance of $3.50.
Relative Strength Index (RSI):
The RSI (14) is currently at 49.61, which suggests a neutral momentum. This means that the market is neither overbought nor oversold at the moment. If the RSI crosses above 50, it could indicate increased buying momentum.
Volume SMA:
The Volume SMA (9) indicates an average volume of about 2.344K, which suggests that there is currently low volume compared to the previous spikes. A significant increase in volume, particularly with an upward price move, could signal a breakout towards the next resistance.
Major Coin Price Prediction:
Short-term (Pre-listing Phase until 28th November):
Given the consolidation and the upcoming listing, we could see a gradual rise towards the $3.50 resistance. A breakout above this resistance with increased volume could target the previous highs near $4.30.
Mid-term (Post-listing Phase):
If the spot listing garners enough interest and market sentiment remains positive, there is potential for the price to break above $4.30 and test the $5.00 psychological level.
However, if there is significant sell-off post-listing (often called "sell the news"), the price could revisit the $2.80 - $3.00 support zone.
Summary:
Major Coin is currently in a consolidation phase, and the upcoming spot listing on 28th November is likely to be a significant catalyst for increased volatility and potentially higher prices. In the short term, expect a potential rally towards $3.50, with further gains up to $4.30 if volume supports a breakout. Caution is advised around the listing event, as profit-taking could bring some price corrections.