STCUSDT possible descending triangle breakout

4 giu 2021

Student coin is currently trading outside of a descending triangle and above the Ichimoku cloud on the 1 hour chart with a possible breakout to the up side if it can break through the 50 EMA on the 4 hour chart or 200 EMA on the 1 hour chart. Strong support has been maintained at $0.015 for 2 weeks and should continue to maintain unless bitcoin has further corrections to the downside. Using the Fibonacci a possible target at $0.02 can be found with further upside towards $0.022 if the secondary descending triangle can also be broken.

Please note: This is not financial advice. Do your due diligence when trading and trade at your own risk.