Substratum (SUB) Goes Subterranean, Navigates New Depths
Between mid-September and mid-November, SUB was consolidating in the $0.10 to $0.13 range before falling to $0.04 last week.
Similar to its movement hitting the $0.10 level, SUB bounced hard off of the bottom of the descending channel making a quick jump up before cooling off again.
Considering the high stochastic RSI value and position on the chart, it is likely that SUB will return briefly to retest the $0.04 mark before trading sideways in the range of $0.04 to $0.07 throughout December and most of January.
Short-term traders should be aware of the potential for another step-down to test for a lower support, especially in the scenario of Bitcoin moving lower. Long-term HODLers may want to add to their position between $0.025 and $0.035 in the case that the bear market carries on.
Read the full analysis @ BeInCrypto: beincrypto.com/substratum-sub-goes-subterranean-navigates-new-depths/
Similar to its movement hitting the $0.10 level, SUB bounced hard off of the bottom of the descending channel making a quick jump up before cooling off again.
Considering the high stochastic RSI value and position on the chart, it is likely that SUB will return briefly to retest the $0.04 mark before trading sideways in the range of $0.04 to $0.07 throughout December and most of January.
Short-term traders should be aware of the potential for another step-down to test for a lower support, especially in the scenario of Bitcoin moving lower. Long-term HODLers may want to add to their position between $0.025 and $0.035 in the case that the bear market carries on.
Read the full analysis @ BeInCrypto: beincrypto.com/substratum-sub-goes-subterranean-navigates-new-depths/
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