Substratum Trend Reversal?
Substratum did hit the bottom on the 29th of June, where it hit $0.16. At that stage RSI formed a bullish divergence on the 4h timeframe suggesting the correction up.
Currently it is obvious that price started to print higher highs and higher lows, and recently broke above the 200 Moving Average, reaching $0.3 high. On the small corrective move down, SUB/USD has rejected the 200 Moving Average and 38.2% Fibonacci support at $0.25.
Such price action suggest the continuation of the corrective move upwards, and price could reach 38.2% Fibs at $0.45, which also corresponds to the 461.8% Fibs applied to the current corrective wave down.
When/if the resistance is rejected and broken, further growth potential shall become quite likely and could mean trend reversal for the Substratum, which at the end might result in a new all-time high.
Currently it is obvious that price started to print higher highs and higher lows, and recently broke above the 200 Moving Average, reaching $0.3 high. On the small corrective move down, SUB/USD has rejected the 200 Moving Average and 38.2% Fibonacci support at $0.25.
Such price action suggest the continuation of the corrective move upwards, and price could reach 38.2% Fibs at $0.45, which also corresponds to the 461.8% Fibs applied to the current corrective wave down.
When/if the resistance is rejected and broken, further growth potential shall become quite likely and could mean trend reversal for the Substratum, which at the end might result in a new all-time high.
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