Even for me, who has been trading for many years, this was
a interesting experience. We are not talking about a small coin
that has little market and can therefore rise extremely
fast, but about a "big" coin. Currently the number 2 behind bitcoin .
Now many people wonder what happens next:
Even more profit or correction?
Of course, anything can happen on the crypto market. And the price
could continue to rise, but we've all learned that at some point
the end could come and things will be the same over and over again.
In short: what shoots up comes down again.
Fibo is a good instrument here. As the TA looks like, we have
reached the top at around 3 USD. That is why we could certainly
expect a correction.
How high would this correction be? Generally speaking, a correction
to Fibo 38% could be expected for sharply rising prices, which would mean
a price of around 1.35 USD. Furthermore, we could expect a market
recovery until just below ATH . That's about $3 - naturally with market
movements in between. Before we move on th next top (Fibo 1.62),
at about 5 USD, we could see correction to 2 USD.
it's just a possible idea. Maybe we only see a correction to 2 USD
(Fibo 62%). But I think we should take everything into
consideration, including 1.35 USD.
Let's see what happens. Happy trading. :-)
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