- REP/USD market operations are ranges of $12 and $11 price territories.
- It would be necessary that a short breaking of the SMA indicator comes to be to allow the bulls stage a decent come-back.
REP/USD Medium-term Trend: Ranging
- Distribution territories: $13, $14, $15
- Accumulation territories: $10, $9, $8
REP/USD price worth has continued to move around ranges of $12 and $11 market territories. A notable drop occurred on July 27, couldn’t suffice a further downward movement past the $11 lower range mark. The pair have only been hovering around the range zones.
The 50-day SMA is between the trend-lines of the Bollinger Upper and Middle Bands in the choppy spots of the market. The Stochastic Oscillators have crossed from the overbought zone to point towards the south at range 80.
The crypto has a bit shown a sign of regaining the market’s strength, having succeeded in breaking the SMA trading indicator to the north on a slight note. Therefore, traders may need to be on the lookout for a decent buy set-up to place a long entry.
REP/USD Short-term Trend: Bearish
At a preceding trading session today, REP/USD market witnessed a line of choppy price movements near around $12 mark from below. A few hours to the time of writing presently, the pair has experienced a drop in its value. Yesterday, the crypto’s trend sequentially moved in a bullish format along with the trend-line of the Bollinger Upper Band.
The Bollinger Lower Band and the 50-day SMA are below the falling market point in the short-term run. The Stochastic Oscillators have crossed from the overbought zone to point to the south at range 20.
It would be necessary that a short breaking of the SMA indicator comes to be in this crypto trade to allow the bulls to prepare a solid stance for subsequent attempting upswings in this crypto-trade operation.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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