Metaverse found the bottom at $0.46 after which strong growth has started. On the 17th of July ETP/USD has reached $2.2 high, which was 377$ growth in less than a month.
But while the high was reached, ETP has rejected the 88.6% Fibonacci retracement level, and price corrected down to $1.8 support area.
At this stage, for the uptrend to continue, price has to break above the $2.2 level. When/if that occurs, Metaverse should continue rising towards 61.8% Fibs, which is a $4 - strong psychological resistance.
On a downside, as long as daily close stays below $2.2 resistance a correctional wave down can be expected. The confirmation could be a break below the $1.66 level, which could result in a decline towards $0.9-1 area.
But while the high was reached, ETP has rejected the 88.6% Fibonacci retracement level, and price corrected down to $1.8 support area.
At this stage, for the uptrend to continue, price has to break above the $2.2 level. When/if that occurs, Metaverse should continue rising towards 61.8% Fibs, which is a $4 - strong psychological resistance.
On a downside, as long as daily close stays below $2.2 resistance a correctional wave down can be expected. The confirmation could be a break below the $1.66 level, which could result in a decline towards $0.9-1 area.
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