- REEF value continues to indicate the market how it’s completed as value tendencies within the inexperienced zone for 2 straight days.
- REEF trades above key resistance as value breaks out of vary holding above 8 and 20-day EMA.
- The value of REEF eyes a recapture of $0.01 as key resistance was flipped into help.
The value of Reef Finance has continued to indicate its power as value tendencies with double-digit beneficial properties in opposition to tether (USDT) on two separate days in a row. With the crypto market cap bouncing from its weekly low because the market continued to look promising, the worth of Reef Finance was not disregarded as the worth broke out of its lengthy weekly vary, with the worth trending to the next top. (Data from Binance)
Reef Finance (REEF) Price Analysis On The Weekly Chart.
The crypto market bought reduction, as anticipated for many crypto altcoins. However, some altcoins have continued in a range-bound motion with the latest surge in value amongst most crypto belongings.
The value of REEF in earlier months has been stocked in a spread field as the worth couldn’t get away with actual quantity. REEF’s value continued to maneuver between the area of $0.004 and $0.003 in a bid to interrupt out and pattern increased.
After a long-range motion, with the month trying good for many altcoins, as many name it the month of Uptober, the worth of REEF broke out with good quantity from its vary as value rallied to a excessive of $0.065
REEF has an excellent use case and little doubt was a catalyst as the worth hit an all-time excessive of $0.3 earlier than seeing its value rejected to a low of $0.003 as the worth bounced off this area for a minor reduction.
With the present construction, the worth of REEF has been maintained; we may see the worth going to a excessive of $0.01 if the reduction state of the market stays for an extended time.
Weekly resistance for the worth of REEF – $0.01.
Weekly help for the worth of REEF – $0.004.
Price Analysis Of REEF On The Daily (1D) Chart
On the every day timeframe, the worth of REEF continues to indicate power as the worth pulled over a 20% achieve regardless of the market trying to have stalled in price movement; after hitting a every day low of $0.003, the worth of REEF rallied to a excessive of $0.005 the place the worth was rejected into a spread of $0.004-0.003 as value struggled to interrupt out.
On a profitable breakout, the worth of REEF rallied with a lot aggression as bulls had been answerable for the worth, pushing the worth to a excessive of $0.0067.
The value of REEF presently trades at $0.0053, simply above the 8 and 20-day Exponential Moving Average (EMA). The value at $0.0050 and $0.0048 corresponds to the costs at 8 and 20-day EMA for REEF on the every day timeframe. With the worth of REEF holding sturdy and a doable value continuation, we may see a retest of $0.01 very quickly.
Daily resistance for the REEF value – $0.00650.
Daily help for the REEF value – $0.005.
Featured Image From Zipmex, Charts From Tradingview
