The Downside Marker of BTC & Ardor
On July 30th, Ardor managed to break down under 372.2 percent on the Fibonacci Retracement level of 2140 Bitcoins, additionally dropping to around a 1906 Bitcoin low. Furthermore, both Ardor and Bitcoin have held strong against the previous support level now operating as its resistance level.
As of now, the most likely scenario seems to point downwards and a new possible value on the Fibonacci Retracement level may climb to 427.2 percent, valued at around 1575 Bitcoins despite an initial requirement of breaking through the current low before climbing.
Additionally, should Ardor maintain the 1900 Bitcoin level, value and price may increase towards 2400 or 3400 BTC levels. For an even more robust correction, breaking past the 2140 mark and following with rejection is a must.