If a spell is played from the trash using Fizz, Trickster's ability and that spell is countered, is it recycled or trashed?

Ruling: The spell is recycled. Fizz's ability states "Recycle that spell after you play it," which creates a replacement effect that applies whenever the spell would leave the chain for any reason—including being countered, finishing resolution, or being banished.

Nuances:

• This is an exception to the general rule that countered spells go to the trash.
• The replacement effect from Fizz's ability overrides the normal destination for countered spells in this specific case.