Steeem Dollars has been corrected down since it reached $16.57 high. Price went down as low as $2.2 where it found the support, confirmed the 86,5% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout.
After rejecting the support price went up and broke above the downtrend trendline , went back and rejected it. At the moment it looks like the price is likely to continue rising although it remains unclear whether it is a long or a short time trend.
The first resistance is sen at $6.7, confirmed by Fibonacci retracement level, 61.8% applied to the corrective wave after breaking the downtrend trendline.
After rejecting the support price went up and broke above the downtrend trendline , went back and rejected it. At the moment it looks like the price is likely to continue rising although it remains unclear whether it is a long or a short time trend.
The first resistance is sen at $6.7, confirmed by Fibonacci retracement level, 61.8% applied to the corrective wave after breaking the downtrend trendline.