TenX – More Downside Pressure

TenX doesn’t seem to find any ground yet as it continues to trend down establishing the new lowest low since August. PAY/USD went as low as USD 1.32, after which it corrected up, rejecting the descending channel.

Price broke below the $1.62 support, that is 127.2% Fibonacci, applied to the corrective wave after the uptrend trendline breakout. Now it could be ready to move further down to test 227.2% retracement level at $1.11.

Right now, Tedoesn’ts’t look very attractive for investors and it could be yet to lose another 30% against the USD. When PAY/USD will test $1.11 support or even $1.00 psychological round number, perhaps after it would look more attractive for buyers.

While current trend is clearly down, only a break above $3 could change it and potentially reverse to the upside, but its just too far away to consider it at this point.

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