Altcoin News

Stratis Technical Analysis: Down to $1?

Today Stratis made a new lower low since July 2017. It broke below the 161.8% Fibonacci support located at $2.78 suggesting the downtrend continuation.

Stratis is trading within the descending channel and is likely to keep on trading that way. Although it broke previous low, a range trading could take place throughout this week before the downtrend unfolds.

The downside target is very close to the $1 psychological support and is based at $0.82, which is the 227.2% Fibonacci retracement level applied to the corrective wave after breaking below the uptrend trendline.

Therefore the area between $0.8 and $1 could be the key downside target. Whether STRAT/USD will break lower is yet to be seen.

Only a break above the $5 resistance would give strength to Stratis and could possibly reverse the trend to the upside.

stratis technical analysis

Adrian Mathieu
About author

Adrian is a cryptocurrency trader and writer since 2014. He follows closely coins such as Bitcoin, Ethereum and NEO to little known ICOs, constantly analyzing crypto markets in order to stay informed. Email Adrian directly at [email protected]
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