PPC/USD Technical Analysis – 25th March 2014

Analysis provided by Ashton Fraser, learn more about his trading strategies with the forex reversal indicator.

Peercoin finally breaks free from the 23.6% shackles imposed upon it, as predicted yesterday, at least for the time being, as very recent technicals give indication to further gravitation around 2.68.

Let's take a closer look at the PPC/USD chart on H4 (click below to expand):

I’ve performed the Fibonacci study from the high of last week at 2.930, until the low of 2014 at just above 2.6, just as yesterday.

that, "I doubt it will be long before a closure above 23.6% finally occurs... with a possible rise to the 38.2% Fib level later this week."

The funny thing is, after I had finished that technical analysis, within the very next candle, Peercoin rose swiftly, breaking 23.6% with ease. Indeed, not only did Peercoin manage to break 23.6%, it actually retraced till the 38.2% Fib level at 2.73.

Since then, price has been hugging the 38.2% line, but given the fact that the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator and Awesome Oscillator are now red, along with the Stochastics crossing down, we could see a return to 23.6% within the next few candles.

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