I had my eye on PPT last few days... with BTC pair looks like a zombie...on bigger time frame. Will it come back to ... life?))
First we need to see PPT above the resistance area on chart then stay there
This is all time LOW for PPT since i know ppt back in 2018 (with btc pair) but also very low in us dollars
The idea behind populus is pretty neat.. but old...
We can see that $PPT is in world of pain today and the threat of confirming a weekly downtrend is getting higher and higher as each hour passes. If $PPT closes a weekly candle below the last weekly low at $1.3824, then the weekly downtrend will be confirmed. This is bearish for long term price action.
Reviewing price action from recent days, we can see that just...
PPT did around a 88% retracement since the last high we had. In my view it did a nice big ABC correction with a very long C leg. After that we started to do wave 1 and ended now our wave 2 Correction. Wave 3 is normally the longest and nicest wave to ride. quite often its a X3 factor of Wave 1 but I rather stay cautious.
Wave 4 will be a quick short pullback...
Elastos can be seen to be in the early stages of nearing a reversal point with this recent bounce off the descending scallop trendline
While populous can be seen, engaged in a reversal at the current moment
Descending scallops often are very slow to come to fruition and is a common trend among many altcoins
PPT we are holding this coin in our spot wallet, we are up over 95% so far in the VIP group market is now forming a nice inverted head and shoulders on the 4hr timeframe, another leg is expected when we break above this resistance.
I am testing my long term targeting skills and published this so I can look back over a year from now and check my work. This token is something I am holding.
I am using the PPT/USD monthly chart. Last month just closed above the 8 EMA, so I am taking that as a signal PPT token is ready to go on it's next big run.
I Plotted Grand Fibonacci lines projected out...
Simple alligator analysis
You can see the bullish reversal using this indicator with the opening of the alligator, indicated with an arrow
This coin has been in bear mode for about three years
I say, its about time
Congratulations to all the hodlers!
PPT longterm support and resistance roadmap.
At the time of speaking ppt managed to S/R flip the blue horizontal longterm resistance line from $1.70 dollar.
That has been an important longterm accumulation resistance level.
If the price managed to hold this blue line we will see much higher prices in the near future.