Metaverse is a relatively new coin although with a great concept and team behind it. It is always questionable if the project will become the reality, but if Metaverse team will be able to accomplish their goal, ETP could be one of the best investment opportunities in 2018.
The current price is relatively cheap and stands at $2, which is not that far of the price since inception. Metaverse found the bottom at $1 where it rejected the 161.8% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout.
The rejection was very clean and price started to move upwards breaking above the downtrend trendline. This could be the first signal to get some ETP long term, but as always there is a risk, however, the growth potential certainly is huge.
Very first upside target is seen at $5.85 that is near previous resistance that has been rejected twice and it is the top of the descending channel. Next resistance is at $8.8, which corresponds to the 161.8% Fibonacci retracement level applied to the last corrective wave down and goes inline with the 161.8% Fibonacci channel.
These are the medium term targets that could be reached within months, but the long-term perspective could bring the price up to $30 and above this year alone. On the downside, break and close below the $1 support could invalidate bullish outlook and extend the consolidation period.