Monaco coin has attempted to move higher and beat Ethereum in the battle for domination. However, this attempt failed after MCO/ETH spiked, failed to break above the ETH 0.04 resistance and went down sharply.
As Monaco coin has been falling against Ethereum it established the lowest price since August 2017, going down to ETH 0.015. Then it corrected up slightly but rejected the resistance at 127.2% Fibonacci retracement level as well as 200 Moving Average. This adds more concern towards the value of Monaco coin against Ethereum in the medium term future as the price is likely to continue moving down towards the next Fibs support level.
The support is at 227.2% Fibs, that is ETH 0.0045 price tag and would cost Monaco Coin more than 50% loss from the current price, which is around ETH 0.02.
Only a break above ETH 0.04 could change the direction of Monaco Coin against Ethereum, from down to up accordingly.