BlockNet Still Struggling

BlockNet continues to produce lower lows and lower highs with a clear downtrend in place. The most recent rejection of the $24 resistance, that is 23.6% Fibonacci retracement level, confirms bearish intentions of the BLOCK/USD.

While the resistance is holding price might drop below the previously established low at $13.75, aiming for the $10 psychological support, which is 88.6% Fibonacci retracement level.

However, if price stays above $13.75 and will break the $24 resistance, there are good chances that BlockNet will reach $50 target. But obviously its far too early to talk about the uptrend at this stage.

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