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Cryptocurrency Trade Ideas and Latest News
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[QUOTE="speculator, post: 148017, member: 34284"] [b]Status Rejecting Second Support[/b] On the 29th of May Status has found the support at 88.6% Fibonacci retracement, that is $0.087 level. The following wave up resulted in a break above two descending channels and reaching the high at $0.1. The corrective wave down followed and SNT/USD yet again fond the support, this time at the 76.4% Fibs, that is $0.091. The strong support area has been formed between $0.087 and $0.091, and while it is holding, trend is likely to reverse to the upside. Nearest resistance could be 61.8% Fibs retracement level, that is $0.15, which could provide a potential growth of 60% in the medium term. If that resistance is broken, an exponential growth by Status could take place. It is important to watch the support area in general and $0.086 level in particular, as daily break and close would invalidate bullish outlook and could result in a decline towards the previous support at $0.074. Source: [URL]http://cryptopost.com/status-rejecting-second-support/[/URL] Telegram: [URL]https://t.me/cryptopost[/URL] [img]https://www.tradingview.com/x/jF5Tam6a/[/img] [/QUOTE]
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