REEFUSDT Archives

REEF price continues to show the market how it is done as price trends in the green zone for two straight days.
REEF trades above key resistance as price breaks out of range holding above 8 and 20-day EMA.
The price of REEF eyes a recapture of $0.01 as key resistance was flipped into support.

The price of Reef Finance has continued to show its strength as price trends with double-digit gains against tether (USDT) on two separate days in a row. With the crypto market cap bouncing from its weekly low as the market continued to look promising, the price of Reef Finance was not left out as the price broke out of its long weekly range, with the price trending to a higher height. (Data from Binance)

Reef Finance (REEF) Price Analysis On The Weekly Chart.

The crypto market got relief, as anticipated for most crypto altcoins. However, some altcoins have continued in a range-bound movement with the recent surge in price among most crypto assets.

The price of REEF in previous months has been stocked in a range box as the price could not break out with real volume. REEF’s price continued to move between the region of $0.004 and $0.003 in a bid to break out and trend higher.

After a long-range movement, with the month looking good for most altcoins, as many call it the month of Uptober, the price of REEF broke out with good volume from its range as price rallied to a high of $0.065

REEF has a very good use case and no doubt was a catalyst as the price hit an all-time high of $0.3 before seeing its price rejected to a low of $0.003 as the price bounced off this region for a minor relief.

With the current structure, the price of REEF has been maintained; we could see the price going to a high of $0.01 if the relief state of the market remains for a longer time.

Weekly resistance for the price of REEF – $0.01.

Weekly support for the price of REEF – $0.004.

Price Analysis Of REEF On The Daily (1D) Chart
Daily REEF Price chart | Source: REEFUSDT On Tradingview.com

On the daily timeframe, the price of REEF continues to show strength as the price pulled over a 20% gain despite the market looking to have stalled in price movement; after hitting a daily low of $0.003, the price of REEF rallied to a high of $0.005 where the price was rejected into a range of $0.004-0.003 as price struggled to break out.

On a successful breakout, the price of REEF rallied with much aggression as bulls were in control of the price, pushing the price to a high of $0.0067.

The price of REEF currently trades at $0.0053, just above the 8 and 20-day Exponential Moving Average (EMA). The price at $0.0050 and $0.0048 corresponds to the prices at 8 and 20-day EMA for REEF on the daily timeframe. With the price of REEF holding strong and a possible price continuation, we could see a retest of $0.01 in no time.

Daily resistance for the REEF price – $0.00650.

Daily support for the REEF price – $0.005.

Featured Image From Zipmex, Charts From Tradingview

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)

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
Four-Hourly REEF Price Chart | Source: REEFUSDT On Tradingview.com

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.

Featured Image From Binance Academy, Charts From Tradingview