Following the previous idea on Expanse, it has reached the upside target at $4.5 and broke much higher, testing $9.6 where it found a strong resistance confirmed by two Fibonacci retracement levels.
After rejecting the resistance, EXP/USD corrected down sharply and went as low as $4.8, losing 50% to USD in just over a week. Currently, Expanse is facing a strong support between $4.6 and $5.0 which could result in rejection and then uptrend continuation or another wave up towards the $9.6 resistance.
The support level should be watched closely as a daily break and close below could result in further decline towards 200 Moving Average. However, at this point it does not look like a trend reversal is taking place, but rather a consolidation. Only a break above the $10 psychological resistance should result in a long-term uptrend.
After rejecting the resistance, EXP/USD corrected down sharply and went as low as $4.8, losing 50% to USD in just over a week. Currently, Expanse is facing a strong support between $4.6 and $5.0 which could result in rejection and then uptrend continuation or another wave up towards the $9.6 resistance.
The support level should be watched closely as a daily break and close below could result in further decline towards 200 Moving Average. However, at this point it does not look like a trend reversal is taking place, but rather a consolidation. Only a break above the $10 psychological resistance should result in a long-term uptrend.