by Lucas Bedwell on September 5th, 2018

Stratis Analysis – It does not look good

Second piece of the day is about the Stratis. For the last time, we talked about this crypto on the 1st of June and wee were negative. The price was on the 4.35 USD and we were anticipating another test of the support on the 4 USD:

“The current scenario is still bearish and I see a big chance of another test of the 4.05 USD support soon. „

10th of June, that is the day, when the support was tested & broken. After this, we do have a beautiful, technical drop. Why technical? Because we do have lower lows and highs and both corrections are shaped like flags (red and blue). Currently, we are on the upper line of the second flag. That is a good place to sell, especially that the price is on the horizontal resistance on the 2.2 USD (orange).

In my opinion, as long as we stay below this level, the sentiment is negative and we should see a further decline. The sell signal will be denied, when the price will close above the orange area.

By Lucas Bedwell

With 3 years of trading experience across Forex, stocks, and cryptocurrencies, Lucas Bedwell has honed his market insights. His close connection to financial markets allows him to craft compelling copy, offering readers valuable perspectives and analyses that reflect his deep understanding of trading dynamics.