BlockNet seem to enter the consolidation phase where price is stuck between support and resistance levels. The resistance is based at 50% Fibonacci retracement, that is btc 0.0043 area, rejected several times. The support is based at 161.8% Fibs, that is btc 0.0012 area, rejected back in December 2017.
The most recent resistance at btc 0.0024 has been rejected multiple times, which prevents BLOCK/BTC to go upwards. While that resistance is being rejected the downside risk remains high. Price could decline towards btc 0.00187 or 0.0012.
Overall, the trend remains unclear and only break above btc 0.0024 or below 0.0012 could help to establish further direction.
Source: http://cryptopost.com/blocknet-vs-bitcoin-scenarios/
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