STRUSD; Bounce off more critical support
And what I suspect in my last analyses (XRPUSD) is already happening in this coin, STRUSD.
After falling outside the Bollinger Bands and touching the more critical 61.8% Fibonacci retracement level market is trying to stabilize. If market can maintain at least a close near the open (0.3100) then a return to the Bollinger midline becomes likely (0.3950 currently).
Such action does not imply a turn in sentiment but rather coling off of short-term oversold conditions.
Note that market has, in a wider view, retraced 38.2% of the entire downmove since the high posted at around 0.9500 at the start of 2018. Bulls task is again, as in other coins, to set a clear higher low to improve the overal picture.
After falling outside the Bollinger Bands and touching the more critical 61.8% Fibonacci retracement level market is trying to stabilize. If market can maintain at least a close near the open (0.3100) then a return to the Bollinger midline becomes likely (0.3950 currently).
Such action does not imply a turn in sentiment but rather coling off of short-term oversold conditions.
Note that market has, in a wider view, retraced 38.2% of the entire downmove since the high posted at around 0.9500 at the start of 2018. Bulls task is again, as in other coins, to set a clear higher low to improve the overal picture.
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