Metaverse Further Weakness To Be Expected
Updated
The Metaverse coin continues trading within the descending channel and it fails to show any signs of strength. Strong resistance has been formed near $4 level that previously acted as a support.
The Fibonacci applied to the corrective wave after $4 support breakout shows that 127.2% retracement level was broken and next potential target is at 227.2% while the final downside target is 372.2% at $1.3
Yesterday ETP/USD broke below the uptrend trendline, rejected 127.2% Fibs as well as 2/1 Gann Fan trendline.
The trend should remain very bearish and more weakness should be expected. The only way for Metaverse to reverse is to go above $4.
The Fibonacci applied to the corrective wave after $4 support breakout shows that 127.2% retracement level was broken and next potential target is at 227.2% while the final downside target is 372.2% at $1.3
Yesterday ETP/USD broke below the uptrend trendline, rejected 127.2% Fibs as well as 2/1 Gann Fan trendline.
The trend should remain very bearish and more weakness should be expected. The only way for Metaverse to reverse is to go above $4.
Trade closed: target reached
Note
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