Counterparty Long Term View

Counterparty seem to find the bottom near $10 psychological support area. Price has reached the low at $9.63 where it rejected the uptrend trendline. Current price action suggests that the long term uptrend is likely to continue, especially after the 50 Moving Average has been broken on a Daily chart.

There are two resistance levels to watch, first is 76.4% Fibonacci retracement level at $82, second is $130, that is 127.2% Fibs. Counterparty remains one of the most undervalued coins right now and it could potentially have a huge growth this year, especially if it manages to break above the $130 level.

On the downside, while XCP/USD is holding the 50 Moving Average support price is likely to continue moving upwards, but only break and close below $16 support could send it back to $10 support.

Source: http://cryptopost.com/counterparty-long-term-view/
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