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• REEF seems to be bullish on a decrease timeframe
• Price reclaims 50 exponential transferring common (EMA) on the every day timeframe 
• REEF worth will get rejected by 200 EMA appearing as resistance on the every 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 value fell from an all-time excessive of $0.3 to $0.0048, with the value sustaining a downtrend with little hope of a aid rally or bounce in opposition to tether (USDT). (Data from Binance) 

Reef Finance (REEF) Price Analysis On The Daily Chart 

Despite 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 every day low of $0.3 to a excessive of $0.0065 earlier than dealing with a rejection to interrupt above that area to greater heights.

The worth of REEF on the every day chart seems to be robust regardless of seeing extra promote orders recently as the value continues to carry. For REEF to renew its bullish sentiment, the value 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 value of REEF wants to carry above $0.007 to keep away from the value from going decrease because of the 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 probably 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 value wants to interrupt and maintain above the $0.007 resistance with extra risk of retesting $0.01

Daily resistance for the value of REEF- $0.007.

Daily help for the value of REEF – $0.004.

Price Analysis Of REEF On The Four-Hourly (4H) Chart

The 4H timeframe exhibits the value of REEF breaking out o the upside as the value has discovered itself in a spread as the value broke out greater.

On the 4H timeframe, the REEF worth is at present buying and selling at $0.0047, simply breaking beneath the 50 and 200 Exponential Moving Average (EMA), appearing as resistance for the REEF worth. The worth of $0.0048 corresponds to the resistance at 200 EMA for the value of REEF. The worth of BTC must reclaim maintain 200 EMA for an opportunity to pattern greater.

Four-hourly resistance for the REEF worth – $0.0048.

Four-hourly help for the REEF worth – $0.004.

Featured Image From Binance Academy, Charts From Tradingview