Back in January, StealthCoin has reached an all-time high at $1.75. Since then the price has been consistently declining, resulting in 86% lost to the USD. The bottom has been established at $0.23, although price still ranging between $0.42 resistance and $0.23 support.
At this point, the direction of XST/USD has no clear pattern. While the price is trading at the resistance, the probability that it will be rejected remains high. The resistance is confirmed by the 361.8% Fibonacci retracement level applied to the corrective wave up after the ascending channel breakout. On the other hand, the nearest support is based at $0.2, that is 461.8% Fibonacci retracement level.
If the resistance will be respected, StealthCoin should produce at least another, perhaps a final, wave down towards $0.2. Only a clean break and close above $0.5, would invalidate bearish outlook and could result in a beginning of an uptrend.
Source: Read Full Article
- Data is the new oil – IOTA head engineer elaborates the IOTA vision
- Norway's Largest Cruise Ferry Line Uses DNV GL and VeChain's (VET) My Care Solution | BTCMANAGER
- Ethereum ($ETH) Will Be the Next Cryptocurrency to Explode, Says HIVE Blockchain Chairman
- BitConnect Faces Class Action Lawsuits
- Binance Coin VS Bitcoin Potential Correction