Coin Description : The protocol’s native currency, XCP, is the fuel that powers Counterparty. It is slightly deflationary, with approximately 2.6 million XCP having been created by burning Bitcoins in January 2014. Counterparty provides users with the world's first functioning decentralized digital currency exchange, as well as the ability to create their own virtual assets, issue dividends, create price feeds, bets and contracts for difference.
Technical Analysis :
From the technical perspective XCP's chart is basically in a downward trend for some time now. Like most of the alt coins its been in a continuous downward movement after a mid term reversal pattern before the falling trend pattern of the whole crypto market started in May. We are almost at the point of the dip of the coin in recent times and it already is reaching the last phase of the falling wedge patterns both in the mid and long term time frame.. RSI is curving upwards and if volume can continue the little hint of increasing for the past 2 days 50EMA and 89EMA will also be in effect and might be a good potential remark for a reversal. Our confirmation will be signaled if only XCP breaks the falling wedge and close above in the by the following days. Here since we are at the end of the week and weekend effect on crypto is coming we might not a good reversal trend but once it breaks and attracts traders by that we might see a good potential 100% to 300% depending on our investment insight.
Our potential resistance lines for our distribution strategy are as follows.
Entry Zone : 50000 sats - 55000 sats
Sell Targets :
Target 1 : 95441 sats
Target 2 : 125364 sats
Target 3 : 149549 sats
Target 4 : 173733 sats
Target 5 : 208165 sats
Target 6 : 252025 sats
Stop Loss : 44500 sats
Good Luck.
Legal disclaimer:
Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications.
With Regards. TeamTWA.
You can give us your feed backs and suggestions on our effort in addition to this your questions here in trading view or in our telegram channel by the same name togetherweaccumulate.
Technical Analysis :
From the technical perspective XCP's chart is basically in a downward trend for some time now. Like most of the alt coins its been in a continuous downward movement after a mid term reversal pattern before the falling trend pattern of the whole crypto market started in May. We are almost at the point of the dip of the coin in recent times and it already is reaching the last phase of the falling wedge patterns both in the mid and long term time frame.. RSI is curving upwards and if volume can continue the little hint of increasing for the past 2 days 50EMA and 89EMA will also be in effect and might be a good potential remark for a reversal. Our confirmation will be signaled if only XCP breaks the falling wedge and close above in the by the following days. Here since we are at the end of the week and weekend effect on crypto is coming we might not a good reversal trend but once it breaks and attracts traders by that we might see a good potential 100% to 300% depending on our investment insight.
Our potential resistance lines for our distribution strategy are as follows.
Entry Zone : 50000 sats - 55000 sats
Sell Targets :
Target 1 : 95441 sats
Target 2 : 125364 sats
Target 3 : 149549 sats
Target 4 : 173733 sats
Target 5 : 208165 sats
Target 6 : 252025 sats
Stop Loss : 44500 sats
Good Luck.
Legal disclaimer:
Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications.
With Regards. TeamTWA.
You can give us your feed backs and suggestions on our effort in addition to this your questions here in trading view or in our telegram channel by the same name togetherweaccumulate.