Reef Finance (REEF) Breaks Out Of Long Isolation, Is This A Fake Rally? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,737,699,001	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00017	-0.14%	0.122113	0.122061	0.122062

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.122842	0.121884	0.122283	0.122283	0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	10:23:34	9.13	0.122113	USD

Price x Volume	Volume	Base Symbol	Related Pairs
15,218.12	124,378.46	TRX	TRXEUR	TRXGBP	TRXBTC

Reef Finance (REEF) Breaks Out Of Long Isolation, Is This A Fake Rally?

21/09/2022 5:00pm

NEWSBTC

REEF looks bullish on a lower timeframe Price reclaims 50 exponential moving average (EMA) on the daily timeframe REEF price gets rejected by 200 EMA acting as resistance on the daily timeframe. Reef finance (REEF) has had a tough time recently but has shown great strength bouncing up in a lower timeframe. Reef finance has struggled to remain bullish as the price fell from an all-time high of $0.3 to $0.0048, with the price maintaining a downtrend with little hope of a relief rally or bounce against tether (USDT). (Data from Binance) Related Reading: Optimism Analysis: Latest Figures Could Induce Investor Trust Reef Finance (REEF) Price Analysis On The Daily Chart Despite a decline in its price from $0.3 to $0.0048, over 70% decline from its all-time high. The REEF price showed great strength as it bounced from its daily low of $0.3 to a high of $0.0065 before facing a rejection to break above that region to higher heights. The price of REEF on the daily chart looks strong despite seeing more sell orders lately as the price continues to hold. For REEF to resume its bullish sentiment, the price needs to rally and break and hold above $0.65, as this has proven to be a resistance to REEF prices. REEF’s price is trading at 0.0048$ below its resistance; the price of REEF needs to hold above $0.007 to avoid the price from going lower due to the sell-off. If the REEF price holds this region, there could be more belief of a rally to its resistance at $0.007 and possibly breaking and holding above this region. A break below $0.004 would mean retesting lower demand zones and reluctance for bulls to step into buy orders as there would be more agitation for lower prices. For REEF’s price to restore its bullish move, the price needs to break and hold above the $0.007 resistance with more possibility of retesting $0.01 Daily resistance for the price of REEF- $0.007. Daily support for the price of REEF – $0.004. Price Analysis Of REEF On The Four-Hourly (4H) Chart The 4H timeframe shows the price of REEF breaking out o the upside as the price has found itself in a range as the price broke out higher. On the 4H timeframe, the REEF price is currently trading at $0.0047, just breaking below the 50 and 200 Exponential Moving Average (EMA), acting as resistance for the REEF price. The price of $0.0048 corresponds to the resistance at 200 EMA for the price of REEF. The price of BTC needs to reclaim hold 200 EMA for a chance to trend higher. Four-hourly resistance for the REEF price – $0.0048. Four-hourly support for the REEF price – $0.004. Related Reading: ApeCoin Eyes $10 Ahead Of Staking, Could This Be A Bullish Catalyst? Featured Image From Binance Academy, Charts From Tradingview

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