CryptoCubic
Long

Peercoin - Calm Before The Storm

POLONIEX:PPCUSD   None
In June Peercoin tested all-time high while reaching $3.5 price tag. Since then it has been correcting down and lost to USD around 70%. Peercoin found the support at $1 psychological round number and to be precise, at $1.12. 

The $1.12 is a 127.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout. After the rejection of the support PPC/USD begun to produce higher highs and higher lows while at the same time breaking above the 200 Moving Average and the downtrend trendline .

These are the signals of the potential trend reversal where Peercoin could be going for a new all-time high in the very near future. There are two key psychological resistance levels that must be watched. First is $4, which is very near the 127.2% Fibonacci retracement applied to June high and September low. The second is $6 area, while the key resistance is just above that at $6.5, where 227.2% Fibonacci level is.

Keep in mind that trend is very likely to reverse and Peercoin should start gaining against USD, however, a break and the daily close below $1 will invalidate this outlook.
Comment: has it started? it certainly looks that way
Comment: The first Target reached!
Comment: Need to see how will act on resistance and then will update
Comment: At this point it looks like uptrend will continue
Trade closed: target reached
Comment: Waiting for breakout, so far resistance is being rejected, thank you all for your likes :)
Comment: Peercoin breaking above the key resistance, likely to continue moving higher

Comments

ppc can be like litecoin in 1 year?
+1 Reply
Well spot on for PPC! Thoughts after this?
+1 Reply
CryptoCubic peopletalkco
@peopletalkco, watch the resistance, if broken, more up...
Reply
peopletalkco CryptoCubic
@CryptoCubic, Thanks appreciate it. Will lookout for your reports. Keep up the awesome work!
Reply
I think your price target is low.
+1 Reply
CryptoCubic nicklikestuna
@nicklikestuna, I do price target for a the short term
+1 Reply
JoaoDomingues00 CryptoCubic
@CryptoCubic, what happen after 6.5?? Any major resistance?
Reply
CryptoCubic JoaoDomingues00
@JoaoDomingues00, YES the resistance there is strong, if you prefer to hold it long term, I'd actually wait for a breakout and then on a correction down would go long again around 6.5
Reply
Wow man, idk why I don't get notifications for your trades but you're spot on.

will u take donations in the future?
Reply
CryptoCubic TheCryptoLabs
@TheCryptoLabs, you can subscribe to our telegram channel, and surely will get all notifications
p.s. tip jar address in the signature above :) thanks guys
Reply
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