Counterparty Mixed Impressions

Counterparty/USD remains under selling pressure especially when it attempted but failed to break above the $12 price mark. AT $12 area a strong resistance formed. First, this is the level where 200 Moving Average was rejected on the 20th of September, second, it is very close to 50% Fibonacci retracement level.

The overall impressions about the direction of the Counterparty remain mixed. A break below the most recent low should send price down to 227.2% Fibonacci – $4.9, while a break above $12.5 should change the direction and could establish a longer-term uptrend.

Currently, safest approach seems to be selling on the breakout of the most recent low – $7.55



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