WaBi Token Down

WaBi¬†Token has reached an all-time high against the dollar, hitting $5.9 price tag. But then the trend has suddenly changed from up to a downtrend. WABI/USD has already lost 78% since it reached its’ peak and continues to decline.

WaBi broke below the 76.4% and then 88.6% Fibonacci support levels suggesting the validity of a bearish trend. After a correction up, WaBi hit the 76.4% Fibs, that this time acted as a resistance that has been rejected.

The downtrend is likely to continue and the downside target is seen at $0.4 area, confirmed by 327.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout.

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