Looking at MCO prices, I am met with a dilemma. Often I found myself going, is this going long or short? If one were to look from an optimistic standpoint, MCO prices have been consistently moving upwards, indicating a rather strong bullish investor sentiments.
However, if one were to look from a pessimistic standpoint, there are as much indicators pointing towards a possible downwards move. For one, MCO prices faced strong pullbacks in prices when trying to reach higher. On top of that, buy in volumes are also decreasing. Additionally, MCO faced issues with Wirecard as their card provider and issues does not seem fully resolved with an issue of card suspending top ups to card in the UK.
In the end, is MCO going higher or going downwards? Faced with that question, I simply can't answer. Therefore, I am going to sit on the fence with this and further observe its movements
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This is the statement by crypto.com with regards to Wirecard suspending top-ups to their card
Upon request by Wirecard UK, we will be temporarily suspending crypto top-ups to EUR wallet on the MCO Visa Cards today.
We believe it’s a temporary inconvenience and are working on a solution to re-enable this feature as soon as possible.