Etherparty Should Outperform Bitcoin

Etherparty has recently found the bottom, hitting 541 satoshis level. At this price it rejected the 261.8% trendline of the Fibonacci channel, applied back in 2nd of May, when FUEL/BTC produced the high.

Then it managed to break and close above the 50 Moving Average suggesting the beginning of a correctional wave up, or even a potential trend reversal. Currently Etherparty is trading right at the 50 Moving Average which this time could act as the support providing a good buying opportunity for the short term.

FUEL could grow from 600  up to 1000 satoshis level, that is 61.8% Fibonacci retracement level, conformed by the 161.8% trendline of the Fibonacci channel. All-in-all, fast growth should be expected, unless price breaks below the 541 satoshis low.

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