Peercoin Is Now Ready To Grow (Fib. Targets)

24 Mar 2020

We looked at Peercoin (PPCBTC) long-term recently, I will share the trade idea below.

Here we have a closer look at the chart with short-term targets based on Fib. proportions.

PPCBTC broke above EMA50 and MA200 and peaked when it hit EMA200 at 0.00003198, soon after prices started to retrace.

Resistance turned support

• After EMA50 (magenta line on the chart) was conquered, prices for PPCBTC moved back down and tested this level as support at ~0.00002500.
  
• EMA50 held and prices are now back above this level and also above MA200 (black line).
  
  • 
    
    What this means is that PPCBTC can easily start to move up from here (green arrow).
    
    Conditionsfor change
    If momentum is lost and prices move lower, the red arrow comes into play. Right now we are looking bullish, so we aim at the Fib. targets next.
    
    Thanks a lot for reading.
    
    Namaste.
    
    --
    Peercoin Awakens | Full Chart W/ Long-Term Targets (12,000%+ PP)