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- MNTS has reached an agreement to settle a Securities class action law suit
- Technical indicators of MNTS are currently favoring downside trend. It has seen a fall of 5% in intraday session
MNTS stock, also known as Momentus Inc, is a space infrastructure company specializes in developing in-space transportation and infrastructure services. It was founded in 2017 and is based in california and has a mission to revolutionize the way people and goods move through space. MNTS has gained significant attention from investors and space enthusiasts alike, thanks to its innovative technology and partnerships with key players in the space industry. The company has also made headlines for its plans to offer in-orbit transportation services, which could potentially lower the cost and increase the speed of satellite deployment and maintenance. Recently MNTS stock saw a momentarily high when the company announced commissioning operations of the Vigoride-5 Orbital Service Vehicle (OSV). They have also signed a securities purchase agreements which will produce $10 Million in Gross proceeds to Momentus
Momentus has a market cap of $63.4 Million with decline in revenue. Various analysts are expecting a strong growth in price in near future.
Bears Are Consistently Pushing The MNTR Down
The weekly technical chart of MNTR suggests a consolidated trend in price. It has seen a fall from the high of $5 to a low of $0.75 in just few months. It is currently near $0.75 with a drop of more than 5 % in the intraday session. The upside momentum of MNTR can see a halt near the value of $1.Meanwhile the support of the asset price can be seen near $0.5.It is currently trading in a downside parallel channel and can hit a new low in the future. MNTR stock price is currently trading below the 50 and 100 Daily Moving Average. They are currently acting as a resistance for the asset price.
RSI of the MNTS is near 37 suggesting its presence in the neutral zone. There is a downside slope suggesting a downside momentum in price.
Conclusion
Momentus has been in talk among the investors for various reasons. It has recently settled a securities related class action law suit. Various analysts are expecting a strong growth in the future.
Technical Levels
Major Support: $0.5
Major Resistance: $1
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
