While producing higher highs and higher lows, Syscoin continues to trade upwards. The last correction down resulted in 70% decline, where price moved from $1 down to $0.3, where 161.8% Fibonacci support, as well as the uptrend trendline, have been rejected.
After rejecting the support SYS/USD recovered by moving up 144%, resulting in the break above the descending channel. The corrective wave down followed where 261.8% Fibonacci support and the upper trendline of the descending channel have been rejected, suggesting the continuation of the uptrend.
The strong resistance, confirmed by two Fibonacci retracement levels is located at $1.5, which is a 150% growth potential in the medium term. Currently, the price could consolidate between $0.5 and $0.75, which seem to be the accumulation zone.
After rejecting the support SYS/USD recovered by moving up 144%, resulting in the break above the descending channel. The corrective wave down followed where 261.8% Fibonacci support and the upper trendline of the descending channel have been rejected, suggesting the continuation of the uptrend.
The strong resistance, confirmed by two Fibonacci retracement levels is located at $1.5, which is a 150% growth potential in the medium term. Currently, the price could consolidate between $0.5 and $0.75, which seem to be the accumulation zone.
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