Stratis Turns Completely Bearish After a YTD high at $0.775

Stratis (STRAT) was seen drawing a negative bias today due to a lack of market traction. After having dipped as low as $0.11, the hybrid currency has marked the YTD high at $0.77 and has strengthened by over 600% in five months. However, the recent pullback in the market has led to a complete bearish crossover and marked the lowest $0.41 in 2 weeks after the YTD high.

Stratis Price Analysis

Stratis—the mix of PoW and PoS is a platform that extends towards enterprise solutions in the world of blockchain, and the native coin STRAT is one of the lucrative investments in the top 200 cryptos of the market. But the price dynamics of the currency are not supportive at present due to lack of daily momentum and active supports.

While having dipped from $0.60, STRAT/USD lost support from MA50 on a 24-hour chart but MA200 at $0.41 support the current price. Presently trading at $0.457, Stratis is intraday bearish, and a further dip will lead to testing MA200 support too.

The price is already breaching the lower band due to a lack of momentum and instant slash since the beginning of the month. The MACD indicator for STRAT draws a bearish divergence too. The RSI is inclined towards the major support due to loss of demand and lies at 35.32.