Today Kris Marszalek the CEO of the Monaco coin has unveiled the finalized and approved designs of Monaco Visa Cards, with more information to come on Tuesday the 14th! The Monaco Coin value responded in a positive manner sending it higher by over 30% up until now.
After it rejected the 161.8% Fibonacci retracement at $5.28, the price went up and currently trading around $7.00. So is it a good time to buy Monaco Coin? Well, the actual Visa Card is not ready and this is just a design which is ready. However positive news coming out and the project seems to be progressing. Although it is hard to say how the market will react and what additional news will come out on Tuesday.
In any case, MCO/USD has been range trading for nearly two months, between $5.3 support and $10 resistance. It is very likely that Monaco will rise to $10 quickly, but then it would need to break above $10 in order to grow further. It might skyrocket, or not, but it is definitely one of the most intriguing coins to watch now.
Break below the $5 support will indicate that a shiny design of the Monaco Visa Cards is not enough yet to push MCO/USD up.