Cryptocurrency
by Lucas Bedwell on July 11th, 2018

Peercoin Analysis – Fresh sell signal

Previous two analysis on Wednesday were bullish, now time to change the tone, which means that I am about to show You a contrary trade, so a bearish one. One thing remains the same though: I will analyse an altcoin which will be here for the first time – Peercoin.

Situation here is also very technical. The main drop started with a huge head and shoulders pattern (grey). The breakout of the neckline (black) sorted out everything and since that, the price is constantly going down. In the meantime, PPC created three continuation patterns. First one was a pennant (blue), second one was a wedge (orange) and now, we do have a flag (red). All of them, resulted with a breakout of its lower lines (as every textbook says).

Peercoin Chart

Last pattern had a breakout yesterday, so the sell signal is fresh. As long as we stay below the yellow resistance, the sentiment is negative and chances for a further decline are much higher.

By Lucas Bedwell

With 3 years of trading experience across Forex, stocks, and cryptocurrencies, Lucas Bedwell has honed his market insights. His close connection to financial markets allows him to craft compelling copy, offering readers valuable perspectives and analyses that reflect his deep understanding of trading dynamics.

More content by Lucas Bedwell

Comments (0 comment(s))