- REEF seems bullish on a decrease timeframe
- Price reclaims 50 exponential shifting common (EMA) on the every day timeframe
- REEF value will get rejected by 200 EMA performing as resistance on the every day timeframe.
Reef finance (REEF) has had a troublesome time just lately however has proven nice energy bouncing up in a decrease timeframe. Reef finance has struggled to stay bullish as the worth fell from an all-time excessive of $0.3 to $0.0048, with the worth sustaining a downtrend with little hope of a reduction rally or bounce towards tether (USDT). (Data from Binance)
Reef Finance (REEF) Price Analysis On The Daily Chart
Despite a decline in its value from $0.3 to $0.0048, over 70% decline from its all-time excessive. The REEF value confirmed nice energy because it bounced from its every day low of $0.3 to a excessive of $0.0065 earlier than going through a rejection to interrupt above that area to larger heights.
The value of REEF on the every day chart seems robust regardless of seeing extra promote orders currently as the worth continues to carry. For REEF to renew its bullish sentiment, the worth must rally and break and maintain above $0.65, as this has confirmed to be a resistance to REEF costs.
REEF’s value is buying and selling at 0.0048$ beneath its resistance; the worth of REEF wants to carry above $0.007 to keep away from the worth from going decrease as a result of sell-off. If the REEF value holds this area, there might be extra perception of a rally to its resistance at $0.007 and probably breaking and holding above this area.
A break beneath $0.004 would imply retesting decrease demand zones and reluctance for bulls to step into purchase orders as there can be extra agitation for decrease costs.
For REEF’s value to revive its bullish transfer, the worth wants to interrupt and maintain above the $0.007 resistance with extra risk of retesting $0.01
Daily resistance for the worth of REEF- $0.007.
Daily help for the worth of REEF – $0.004.
Price Analysis Of REEF On The Four-Hourly (4H) Chart
The 4H timeframe exhibits the worth of REEF breaking out o the upside as the worth has discovered itself in a variety as the worth broke out larger.
On the 4H timeframe, the REEF value is at present buying and selling at $0.0047, simply breaking beneath the 50 and 200 Exponential Moving Average (EMA), performing as resistance for the REEF value. The value of $0.0048 corresponds to the resistance at 200 EMA for the worth of REEF. The value of BTC must reclaim maintain 200 EMA for an opportunity to development larger.
Four-hourly resistance for the REEF value – $0.0048.
Four-hourly help for the REEF value – $0.004.
Featured Image From Binance Academy, Charts From Tradingview
