Tag: Metaverse

Categories
Crypto Market Analysis

Metaverse ETP – Is This A Temporary Drop?

Metaverse ETP (ETP)

Market Cap: $26.12M

Circulating Supply: 35.84M ETP

Max Supply: 100M ETP

Volume (24h) $4.50M

Technical Analysis

ETP/USD continues to move sideways somehow in the short term but it remains to be seen what will really happen after the rate will reach the major and critical support. The price drops in the short term as all the major cryptocurrencies have crashed in the short term. The rate continues to stay above some very important support levels, so we may still have a rebound on the short term.

 


 

Unfortunately, the rate failed to make a valid breakout above the outside sliding parallel line (sl) of the minor descending pitchfork and now it has slipped below the upper median line (uml) again. It is pressuring the upper median line (UML) of the major descending pitchfork, so a rejection from here and from the 0.6000 psychological level will signal a rebound and a potential breakout above the outside sliding line (sl).

Right now it is very important for the rate to stay above the UML of the major descending pitchfork and above the 0.6000 psychological level because a breakdown will send the rate at least till the upside 50% Fibonacci line of the descending pitchfork.

Conclusion

We may have a great buying opportunity only if the rate will make a valid breakout above the outside sliding line (sl). This scenario will be invalidated if the rate will resume the downside movement and if will close and stabilise below the 0.5701 static support.

Categories
Crypto Market Analysis

Metaverse ETP Long Opportunity Eyed

Metaverse ETP (ETP)

Market Cap: $29.46M

Circulating Supply: 35.73M ETP

Max Supply: 100M ETP

Volume (24h) $4.23M

Technical Analysis

ETP/USD decreased a little today, but it seems undecided in the short term. Price is narrowing right now, that’s why you should stay away and wait for a fresh trading signal. It could start a broader upside movement if it will take out the near term resistance levels.

It has developed a minor chart pattern, but we still have to wait to see the breakout direction. It has shown some oversold signs, but it is still under pressure as long as it is trapped below some very important upside resistance levels.


 

You can notice that the rate has failed to make a valid breakdown below the 50% Fibonacci line of the minor descending pitchfork signalling an oversold. It has run away from the 50% Fibonacci line of the major descending pitchfork signalling that the behaviour could change soon.

ETP/USD failed to reach and retest the 0.6000 psychological level, that is why we can think of another bullish momentum. However, the rate is trapped below the upper median line (uml) of the minor descending pitchfork, below the outside sliding line (sl) of the minor descending pitchfork, and much below the UML of the major descending pitchfork. Support can be found at the first warning line (wl1) of the ascending pitchfork.

Conclusion

We’ll have a perfect buying opportunity if the rate will make a valid breakout above the mentioned resistance levels. The next upside target will be at the 150% Fibonacci line of the ascending pitchfork and the second one at the lower median line (lml). A drop below the 0.6000 – 0.5701 static support will invalidate the bullish scenario.

 

Categories
Crypto Market Analysis

Metaverse – Buy a Valid Breakout

Metaverse (ETP)

Market Cap. $36.84M

Circulating Supply: 35.46M ETP

Max Supply: 100M ETP

Volume (24h): $5.94M

 

ETP/USD dropped aggressively in the yesterday’s trading session and erased some of the latest gains. Price is struggling to increase again and to stay above the 1.0000 psychological level. The crypto increased by 2.09% today, but unfortunately, the rate is under massive selling pressure after a false breakout.

It could drop further in the upcoming days to test and retest a potential support before will try to increase again.  Metaverse dropped sharply in yesterday’s trading session as the Crypto Market crashed. The retreat was somehow expected after the last period bullish movement.

Metaverse Coin Price

The rate was rejected once again by the lower median line (lml) of the ascending pitchfork and now is expected to test and retest the outside sliding parallel line (sl) before will make a significant move.

You could go long only if the rate will make a valid breakout above the lower median line (lml) of the ascending pitchfork and you can place the first target at the median line (ml). It will drop much farther in the short term if it slips and stabilizes below the sliding line (sl).

You can see that the rate has made a false breakout above the 1.1105 static resistance signaling a minor exhaustion. A valid breakout above the mentioned static obstacle will signal a  potential valid breakout above the lower median line (lml).

Conclusion

ETP/USD increase like the other cryptocurrencies after the massive drop, so the minor drop was natural as well.  We still need a confirmation that the Metaverse will resume the rebound and will reach at least the median line (ML)  in the upcoming weeks.

©Forex.Academy