Simple Token (OST) Analysis – One of very few Wedesday’s winners

In general, today’s sentiment on the crypto market is negative. Most of the instruments here are going down and an average decline is something around 4%. In this environment, it is hard to find an instrument, which is going up. It is hard but is not impossible. Simple Token will be the first analysis of the day. As for now, we are around 4 % higher than yesterday and the overall technical situation looks promising.

Maybe the last statement was a bit exaggerated. The situation is not terrible, which in current market sentiment, is enough to draw our attention. IOST managed to break the mid-term down trendline (red), which is connecting lower highs since the 10th of May. That sets the mid-term positive sentiment. The target for this movement is on the black horizontal resistance on the 0.035 USD. Chances that we will get there are quite high. The only obstacle can be the overall situation on the crypto market.