Sellers can edit or cancel your Counter Offer at any time before it gets accepted.
You can do this by going to your Selling → Pending
However, you cannot edit or cancel an accepted Counter Offer.
Example: How to edit or cancel a Counter Offer?
Step 1: Go to 'Selling' menu in your 'Profile’
Step 2: Select ‘Pending’
Step 3: Edit or cancel the Counter Offer you’ve made in Order detail
