- REEF appears to be like bullish on a decrease timeframe
- Value reclaims 50 exponential shifting common (EMA) on the day by day timeframe
- REEF worth will get rejected by 200 EMA appearing as resistance on the day by day timeframe.
Reef finance (REEF) has had a troublesome time just lately however has proven nice power 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 in opposition to tether (USDT). (Knowledge from Binance)
Reef Finance (REEF) Value Evaluation On The Each day Chart
Regardless of a decline in its worth from $0.3 to $0.0048, over 70% decline from its all-time excessive. The REEF worth confirmed nice power because it bounced from its day by day low of $0.3 to a excessive of $0.0065 earlier than dealing with a rejection to interrupt above that area to larger heights.
The value of REEF on the day by day chart appears to be like sturdy regardless of seeing extra promote orders recently as the worth continues to carry. For REEF to renew its bullish sentiment, the worth must rally and break and maintain above $0.65, as this has confirmed to be a resistance to REEF costs.
REEF’s worth is buying and selling at 0.0048$ 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 worth holds this area, there may very well be extra perception of a rally to its resistance at $0.007 and presumably 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 could be extra agitation for decrease costs.
For REEF’s worth to revive its bullish transfer, the worth wants to interrupt and maintain above the $0.007 resistance with extra chance of retesting $0.01
Each day resistance for the worth of REEF- $0.007.
Each day help for the worth of REEF – $0.004.
Value Evaluation Of REEF On The 4-Hourly (4H) Chart
The 4H timeframe reveals the worth of REEF breaking out o the upside as the worth has discovered itself in a spread as the worth broke out larger.
On the 4H timeframe, the REEF worth is at present buying and selling at $0.0047, simply breaking beneath the 50 and 200 Exponential Shifting Common (EMA), appearing as resistance for the REEF worth. 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.
4-hourly resistance for the REEF worth – $0.0048.
4-hourly help for the REEF worth – $0.004.
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