MarsCoin leads memecoin gains but faces a sell wall - Will traders back out?
The MarsCoin [MARSCOIN] memecoin has witnessed a massive gain, with a 34% price increase. The momentum has since slowed as the asset has now traded into a supply zone for the fourth consecutive time, with a wick now forming, according to the 4-hour chart. A supply zone is an area on the chart that is packed with significant selling pressure that is likely to weigh on price performance as it declines from that level or causes the price to range. Source: TradingView The directional bias is not certain yet, with capital flow and market sentiment likely to determine what comes next. In a bullish scenario, there are two targets if MarsCoin exceeds the supply zone, with the first target being $0.196 and the next target being the $0.255 level on the chart. For a bearish outcome, the price could drop lower, finding a possible support zone where it could gather momentum and eventually make an upswing. Discover more Blockchain development services Blockchain news subscription Bitcoin investment guide Bullish indicators support a potential breakout The bulls still hold the higher probability for now, given the direction of the MACD and Aroon Indicator. The Aroon Indicator, which tracks market direction based on the position of the Aroon Up Line (orange) and the Aroon









