- Reef token over the monthly chart is heading towards the vital resistance zone of the cup with a handle pattern.
- The crypto asset is trying to suppress its major supply zone and currently trading above all DMA of 20, 50, 100, and 200-day lines.
- The pair of REEF/BTC is trading at 0.0000004246 BTC with an intraday gain of +7.31%, and the ratio of REEF/ETH is CMP at 0.000006835 ETH with a 24-hour change of +10.96%.
Reef token is approaching near its hurdle zone of the cup with a handle pattern after a strong recovery from the lower levels. The crypto asset is trying to suppress its supply zone and now trading above all daily moving average lines of 20, 50, 100, and 200-day lines. Presently, the coin is comfortably trading above all DMA lines, and volume activity over the monthly chart increases and jumps above the average line.
The breakout from the supply zone or cup with handle pattern, with supportive volume activity, will boost more buyers. In upcoming trading sessions, volume needs to improve to suppress its supply zone for the next lap of bullish momentum. Support on the lower side is $0.01860 and $0.01690, whereas resistance on the higher side is $0.02750 and $0.3075.
Reef token is trading under bullish channel pattern, making higher highs and lows
Reef token at the weekly chart is trading under bullish channel pattern while making higher highs and lows. Meanwhile, the technical parameters are also projecting a bullish move and now heading towards the overbought zone. The no new fresh long is recommended in the current scenario, as the technical parameters suggest caution of longs. Volume over the 4-hour time frame also increases and jumps above the average line. REEF price is trading at $0.02698 with an intraday gain of +18.25%, and the volume to market cap ratio is 0.5999.
Relative Strength Index (CAUTION): Reef token RSI is trading bullish after a sharp recovering from the lower levels. The coin is reaching near its overbought zone and RSI at 68.
Moving Average Convergence Divergence (CAUTION): The daily chart indicates a strong positive trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is overpowering the seller’s line (red).
Support levels: $0.01860 and $0.01690
Resistance levels: $0.02750 and $0.3075.