Clams VS Bitcoin Might Not Go Any Lower
Clams coin has found the support at 40k sathosis. That is not only a strong psychological support but a 327.2% Fibonacci retracement level (applied to the corrective wave after the 62k support breakout).
Clearly, 40k satoshis level has been rejected twice already, however CLAM/BTC is struggling to move above the 50k satoshis resitance, the 61.8% Fibs. At this point the consolidation between 40k and 50k satoshis is taking place and price has to break either for them to provide momentum for the next wave.
Break and close above the 50k satoshis should push price up, towards strong resistance at 62k satoshis area, or perhaps higher, towards 69k satoshis. Both of these levels correspond to the 38.2% and 50% Fibonacci retracement. On a downside, close below 40k satoshis, should push price down to 427.2% Fibs at 34k satoshis.
Author
Viktor Karapetjanc
Crypto Post
Viktor is a Chief Editor, veteran currency trader. He started his trading career in 2001 when he began to study Forex and Binary options trading techniques. Not long after he became a trading systems engineer and algorithmic trading guru.
