Populous (PPT) Analysis – Aiming the down trendline

Now, an update about the instrument, that we were talking about two weeks ago – Populous. Back in that day the price was around 4 USD and we were bearish:

“PPT bounced from that area yesterday and today we do have a continuation of this movement, which can be perceived as a confirmation. The sentiment is negative and in the next few days/weeks, we should see the further decline. „

Since those words were written, the price was mostly going lower. On Monday, we reached lows on the 2,5 USD. First signs of the demand can be seen today as the price is climbing higher around 17%. Buyers are trying to reach the first resistance on the blue line and the movement there is almost certain. Even with the today’s rise, it is still too early to claim the bullish victory. As long as the price stays below the yellow area, the sentiment in the mid-term is still negative.