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[QUOTE="speculator, post: 149072, member: 34284"] [b]TenX Pay Token Hitting Resistance[/b] TenxPay Token has formed a double bottom at $0.45, after which price went up sharply. During the past three days, PAY/USD gained 111%, while rising from the $0.45 support up to the $0.96 resistance. The resistance is confirmed by 38.2% Fibonacci retracement and today it was rejected, along with the 200 Moving Average and middle trendline of the descending channel. Currently it looks like $1 psychological resistance could play a key role in further price development. But the fact is that the resistance has been rejected and at this point the correction down is possible. Price could decline towards 23.6% Fibs support at $0.76, or if broken, down to either $0.55 or $0.45. On the upside, if daily close will be above the $1 price should continue moving higher towards one of the resistance levels. First is 61.8% Fibs at $1.27, and second is 76.4% Fibs at $1.46. Break and close above the $1.46 resistance, along with the upper trendline of the descending channel could signal on the beginning of the strong uptrend, while rejection should result in a correction or even a downtrend continuation. Source: [URL]http://cryptopost.com/tenx-pay-token-hitting-resistance/[/URL] [img]https://www.tradingview.com/x/cyQsBRXg/[/img] [/QUOTE]
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