STRATIS’ Bullish Surge Could Witness STRAT Retest $0.66 Level

Krystian Bielanski
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.
  • Stratis is one such altcoin that was observed exhibiting inverse proportionality to Bitcoin’s price since the 17th of August, 2020.
  • The price scale may exhibit substantial escalation. Over the past three months, Stratis (STRAT).
  • The third week of August brought significant gains for Stratis. 

The DeFi buzz was all over the market from the past two months, owing to the exponential increase noted by Defi protocols. The DeFi boom provided the entire cryptocurrency market a much-needed recovery from the COVID crash. However, the market appeared to have slowed down at the time of writing as altcoin again responded to bitcoin’s moment. In contrast, some alts continue to perform the inverse of Bitcoin’s moment. Stratis is one such altcoin that was observed exhibiting inverse proportionality to Bitcoin’s price since the 17th of August, 2020.

Stratis Price Action

The cryptocurrency is considered as one of the most volatile cryptocurrencies in the market. The current asset position looks slightly reverse; however, the price scale may exhibit substantial escalation. Over the past three months, Stratis (STRAT).

Over the last three months, the price has folded, the price was at $0.33, and now it is at $0.668. The change is substantial. The upcoming period is reflecting a minor plunge that will be uplifted soon. 

Stratis (STRAT) has fallen on the market cap ladder lately, with the same observed by its performance on the charts. The third week of August saw STRAT exponential surge on the charts. Since then, however, changes have set in, and linked with the crypto market’s fall, START fell by -0.86% over the past 24 hours. Despite the fall above, STRAT was still noting YTD gains of over +106.7%, at the time of composing. 

Stratis’ performance towards the beginning of the month reflects a rise as the price was moving against the greenback. The STRAT price was found at $0.552 on the 01st of August. The first week of August saw the coin trading sideways. However, with the start of the second week, the asset began trading with bullish momentum for the next three-four days after that, the coming days caused a considerable decline in the price. The change started promptly after the climb. The third week of August brought significant gains for Stratis. 

Stratis’ Price Analysis

According to STRAT’s indicators on the 4-hour chart, the Relative Strength Index showed minor divergence as it is in the overbought zone, it should retrace soon. 

The price of Stratis broke out the resistance and should be retesting it soon on 4-hour time frame, if STRAT continue holding the support, this trade will be valid and the crypto asset might see continuation to first target $1-1.05.

According to indicators on the weekly chart, 20-day EMA is close to crossing to the 50-day EMA while on the 1-day chart, stratis has been already trading above 50 ema  and 100 ema since 16th of june.

The volume in the crypto asset has strongly backed the recent price breakout, in the coming days, a retest is expected and if the price holds above 0.66 cents it will be a bullish continuation for the coin. 

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