Since April, Burst has been steadily moving upwards producing higher highs and higher lows, while it moved from 190 up until 360 satoshis. On a corrective wave down price reached 280 satoshis support, that has been rejected along with the uptrend trendline.
Yesterday BURST/BTC broke above the minor resistance at 320 satoshis, which should result in a continuation of the long term uptrend. There are several resistance to watch, first is 78.6% Fibs at 785 satoshis. Second is 88.6% Fibs at 875 satoshis. And final resistance is near 1000 satoshis, that is a strong psychological level, and also the price that was rejected twice back in 2017.
The uptrend could only be invalidated in daily close will be below 280 satoshis support. In that case consolidation could take place and even decline towards 200 satoshis area.
Yesterday BURST/BTC broke above the minor resistance at 320 satoshis, which should result in a continuation of the long term uptrend. There are several resistance to watch, first is 78.6% Fibs at 785 satoshis. Second is 88.6% Fibs at 875 satoshis. And final resistance is near 1000 satoshis, that is a strong psychological level, and also the price that was rejected twice back in 2017.
The uptrend could only be invalidated in daily close will be below 280 satoshis support. In that case consolidation could take place and even decline towards 200 satoshis area.
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