Medical Chain’s $MTN token just ran +200% in a matter of hours. The cryptocurrency’s bullish momentum may be on the back of the project’s strong fundamentals, more than AltSeason.
Medical data flow streamlining platform, Medical Chain‘s native digital currency, $MTN has been on a price run for the past few days. Totally shaking off the effects of the last crypto market pullback, the medical data token is up 173% (at time of writing.)
On the back of renewed bullish momentum in the wider digital assets markets, as well as strong fundamental, as the project, on the 7th of June announced that it was in talks with two pharmaceutical firms, to run trials on its product – along with key functionality developments – the token rose from a 23 day slump, following an 80% drop. The highly volatile, fast moving asset looks to be readying for a short term drop, however.
Priced at $0.0246, down from a 238% run that saw the coin run to $0.0292 from a low of $0.0091. This run appears to be a 5th wave truncation, following a 1016% run that saw the digital asset’s prices top out at $0.0428.a move the took about 5.5 hours to complete.
The asset seems to have entered a corrective cycle. A drop to the $0.0169 or – at worst – the $0.0135 price level, may be in play before the asset runs 180-200% in a B wave upswing. Assuming the market will perform a standard correction.
The asset’s fast moves indicating heavily bullish sentiment regarding the project behind an asset. Giving one the hunch that i$MTN may not correct very long, though some deep downward volatility can be expected in the coming days – weeks.