Stratis Falls Inside Previous Range After Failed Breakout

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In Brief
  • -Stratis has fallen below the 6,000 satoshi resistance area. The closest support area is found at 4,450 sats.

  • -Long-term technical indicators are bearish, but the momentum has started to change in short/medium-term time-frames.

  • -The price has broken out from a short-term descending resistance line.

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At the beginning of July, the Stratis (STRAT) price broke out from an almost yearlong resistance area. However, it could not sustain the rally and has fallen back into the previous range. Until the price reclaims the breakout level, the price movement cannot be considered bullish. Stratis Failed Breakout Leads To Deviation In the period measuring from August 2019 to July 2020, the
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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