In the past few weeks STRAT has been struggling to get to its old levels, especially when looking at the value in sats. This is partly because of Bitcoin rising so much and pulling money out of alts. It is always also important to look at the dollar value: STRAT hovering around $7 in spite of the lower value in sats shows that we should not worry too much.
This analysis shows that - short term - STRAT is finding support on the "Uptrend Line 1". The pennant this line is a part of is becoming more and more narrow and we should watch out for a continuation of the uptrend outside of this pennant. Stoch RSI also shows that STRAT is oversold, which confirms a likely upwards movement.
Should the price go down instead and break the "Uptrend Line 1", then we should watch carefully for a bounce off the "Uptrend Line 2". This line seems to be a strong support level that has never been broken so far. A bounce off the "Uptrend Line 2" will be a good entry level.
This analysis shows that - short term - STRAT is finding support on the "Uptrend Line 1". The pennant this line is a part of is becoming more and more narrow and we should watch out for a continuation of the uptrend outside of this pennant. Stoch RSI also shows that STRAT is oversold, which confirms a likely upwards movement.
Should the price go down instead and break the "Uptrend Line 1", then we should watch carefully for a bounce off the "Uptrend Line 2". This line seems to be a strong support level that has never been broken so far. A bounce off the "Uptrend Line 2" will be a good entry level.
Comment:
After the big Saturday sell off STRAT broke support and is now headed towards "Uptrend line 2". Should the price bounce off the "Uptrend line 2" it would make for a great entry.