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• REEF value continues to point out the market how it’s achieved as value developments 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 energy as value developments with double-digit positive aspects towards 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 value of Reef Finance was not not noted as the value broke out of its lengthy weekly vary, with the value trending to the next top. (Data from Binance)

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

The crypto market received aid, as anticipated for many crypto altcoins. However, some altcoins have continued in a range-bound motion with the latest surge in value amongst most crypto property. 

The value of REEF in earlier months has been stocked in a spread field as the value couldn’t get away 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 trying good for many altcoins, as many name it the month of Uptober, the value 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 doubt was a catalyst as the value hit an all-time excessive of $0.3 earlier than seeing its value rejected to a low of $0.003 as the value bounced off this area for a minor aid.

With the present construction, the value of REEF has been maintained; we may see the value going to a excessive of $0.01 if the aid state of the market stays for an extended time.

Weekly resistance for the value of REEF – $0.01.

Weekly assist for the value of REEF – $0.004.

Price Analysis Of REEF On The Daily (1D) Chart

On the day by day timeframe, the value of REEF continues to point out energy as the value pulled over a 20% achieve regardless of the market trying to have stalled in price movement; after hitting a day by day low of $0.003, the value of REEF rallied to a excessive of $0.005 the place the value was rejected into a spread of $0.004-0.003 as value struggled to interrupt out.

On a profitable breakout, the value of REEF rallied with a lot aggression as bulls had been in command of the value, pushing the value to a excessive of $0.0067.

The value of REEF at the moment trades at $0.0053, simply above the 8 and 20-day Exponential Moving Average (EMA). The value at $0.0050 and $0.0048 corresponds to the costs at 8 and 20-day EMA for REEF on the day by day timeframe. With the value of REEF holding robust and a potential value continuation, we may see a retest of $0.01 very quickly.

Daily resistance for the REEF value – $0.00650.

Daily assist for the REEF value – $0.005.

Featured Image From Zipmex, Charts From Tradingview