MCO Reflects Continual Decline After Hitting $5.8 Mark

The world economy encounters a heavy blow due to the novel coronavirus outburst. The improvement in the price of the cryptocurrencies is predicted to be taking place in August. We are anticipating that the market would improve substantially in the third quarter of the year. 

MCO started the year around $4.11, and now the price is again back to where it began. Despite heavy pressure, the coin managed to stay around $4. The upcoming days might continue with the same trend.

MCO Price Analysis

If we look at the price trend of MCO/USD for the past six months, the coin is reflecting hefty volatility. Starting from February, the price was at $5.103. Within the next 15-days, the currency escalated above $6.27. However, the market pressure strengthened, and the MCO price began the plunge, and at the end of the month, it spotted at $5.07.

Further, the downward correction continued, and in the next 15 days, the price dropped below $2.02. However, the improvement marked immediately, and the MCO price escalated above $4.81. This upside momentum continued in April, and the coin reached at $5.07 at the end of April.

In the next month, the MCO coin turned flattish, and after 15 days, it started trading downwards.  The currency keeps the downside momentum intact in June and is continuing in the ongoing month. The current price of the coin is $4.12. The price is almost near the immediate support level. 

Currently, the MCO coin lacks support from MA 20 and 50. As per the current trend, the currency might test its crucial support at $2.70.