REEF value continues to point out the market how it’s performed as value traits 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 assist.
The value of Reef Finance has continued to point out its power as value traits with double-digit positive factors 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 peak. (Information from Binance)
Reef Finance (REEF) Value Evaluation On The Weekly Chart.
The crypto market obtained aid, as anticipated for many crypto altcoins. Nevertheless, some altcoins have continued in a range-bound motion with the current surge in value amongst most crypto property.
The value of REEF in earlier months has been stocked in a spread field as the worth couldn’t escape 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 larger.
After a long-range motion, with the month wanting 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 question 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 aid.
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 aid state of the market stays for an extended time.
Weekly resistance for the worth of REEF – $0.01.
Weekly assist for the worth of REEF – $0.004.
Value Evaluation Of REEF On The Day by day (1D) Chart
On the each day timeframe, the worth of REEF continues to point out power as the worth pulled over a 20% achieve regardless of the market seeking to have stalled in value motion; after hitting a each 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 have 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 Transferring Common (EMA). The value at $0.0050 and $0.0048 corresponds to the costs at 8 and 20-day EMA for REEF on the each day timeframe. With the worth of REEF holding robust and a doable value continuation, we may see a retest of $0.01 very quickly.
Day by day resistance for the REEF value – $0.00650.
Day by day assist for the REEF value – $0.005.
Featured Picture From Zipmex, Charts From Tradingview
