Reef Finance's Price Soars, Gains Double-Digits Against Tether (USDT)
Reef Finance's price has continued to surge, with double-digit gains against tether (USDT). This shows the strength of Reef Finance's price movement and trend.
- Reef price is continuing to show the market how it is done by trending in the green zone for two straight days. This is a strong indication that the market is bullish on Reef and that its price is likely to continue to rise in the near future.
- As REEF breaks out of its range and trades above key resistance, it is holding above its 8 and 20-day EMA. This suggests that the bulls are in control and that prices are likely to continue to move higher in the near-term.
- The price of REEF looks poised to recapture the $0.01 level as key resistance was flipped into support. This would be a significant development for the company, and could mean good things for its future prospects.
With the crypto market cap bouncing back from its weekly low, the price of Reef Finance has also broken out of its long weekly range, trending to a higher height. This strength is demonstrated by the coin's double-digit gains against tether (USDT) on two separate days. With the market looking promising, it seems that Reef Finance is poised for continued success.
Reef Finance (REEF) Price Analysis For The Week
The crypto market got relief, as most crypto altcoins surged in price. However, some altcoins have continued in a range-bound movement.
It seems that REEF's price is stuck in a range box, moving between $0.004 and $0.003. Will it be able to break out and trend higher? Only time will tell.
With the month of October looking promising for most altcoins, it is no surprise that the price of REEF broke out with good volume from its range. Price rallied to a high of $0.065, showing that the market is still bullish on altcoins.
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. The fact that REEF was able to provide a use case for its token and see its price rally to an all-time high before seeing a sharp sell-off is a positive sign for the project.
It is possible that the price of REEF could reach $0.01 if the current relief state of the market persists. This would be a significant increase from the current price, and could provide a boost to the company's fortunes.
It is evident that the price of REEF has been facing some resistance at the $0.01 mark in recent weeks.
The support level for REEF this week is $0.004. This is a key level to watch, as it could determine the direction of the price in the coming weeks.
REEF prices are on the rise, according to our latest analysis.
It is clear that REEF is a strong contender in the cryptocurrency market, as it has shown consistent growth despite the market overall seeming to stall. After hitting a low of $0.003, REEF rallied to a high of $0.005, before being rejected and settling into a range of $0.004-0.003. It is likely that REEF will continue to show strength in the market, as it has demonstrated its ability to weather tough market conditions.
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. This is a great development for REEF investors, as the price has been struggling to break out for some time now.
The price of REEF is currently trading 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.
I see the REEF price continuing to hold steady at $0.00650, with daily resistance remaining strong.
It is great to see that the REEF team is committed to providing daily support for the REEF price. I believe that this will help to ensure that the REEF community remains strong and vibrant.
