Stratis is another currency which is taking a beating. Sellers are in full control which taking this script to low after low and now it is at important support level of 134k satoshi and currently trading at this level only.
Apart from major digital currencies like Bitcoin, Ethereum etc. every other digital currencies is taking a beating. Where Bitcoin is hitting new highs everyday, other currencies are hitting new lows by breaking support after support. It seems that major investors are shifting their funds from other currencies to Bitcoin and Ethereum.
Lets have a look on chart below to get a sense of things happening in this script.......
Their are few things to take note on chart above which has led to current fall in this script:-
- Double Top: This script has created a double top pattern at 261 k Satoshi level. In fact level of 215k satoshi to 274k satoshi is resistance zone to this script and Stratis has fallen after it failing to cross this area and it has given up all its recovery gain which it get after hitting a low of 94k satoshi last month.
- Bearish Crossover: In this fall, this script has changed its trend from neutral to bearish as 10 Day EMA(Blue Wavy Line) has crossed the 50 Days EMA(Red Wavy Line) on downside causing bearish crossover.
Last Hope
Supporting zone of 134k satoshi to 111k satoshi is a last hope for this script to register another bounce back. In fact this script has recover somewhat after hitting a low of 126k satoshi level and if this supporting zone held this script can recover or give dead cat bounce.
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Now The Conclusion
In conclusion, I am inclined to say that this script is in bears grip. So, every bounce should be looked to be shorted but as this script is now at major support level, traders can buy this script for bounce back and book profit as per their comfort.
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Stratis is going to go crash way more than it already has ^^. If my count is correct it could even break through 50000 satoshi...
then sell if breaks support
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I'm thinking about moving my NEO to Stratis when it reaches a support. Do you think it's a good move or should I keep holding my NEO? :/
from the #redfish