From September up until December 2017, BlockNet has been ranging between $36 and $13, but in January 2018 price broke the range moving above the previous resistance at $36. BLOCK/USD reached the high at $56.

The following corrective move down resulted in price going back to $20 where it rejected the 88.6% Fibonacci retracement level as well s the 8/1 Gann Fan trendline suggesting that the correction has ended.

Currently, BlockNet is trading at the previous support near 36$, which now is acting a support. This could seem a good entry point for BlockNet investors, from where the price is likely to continue moving higher.

Price could grow as much as 200% from the current price reaching $100 psychological resistance confirmed by 227.2% Fibonacci retracement and 361.8% Fibonacci channel lines. At the same time break above the channel could be the safer way to trade BlockNet, but it seems that the buying opportunity is already offered.

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