- The bulls now appear to make a come-back in the REP/USD trade operations.
- Meanwhile, the bulls may not easily break past $19 price line to the north.
REP/USD Medium-term Trend: Bearish
- Distribution territories: $20, $21, $22
- Accumulation territories: $16, $15, $14
Selling pressure has been more prevalent in than the buying activities quite a while in the REP/USD market. Recently, the crypto was found featuring variant lines of choppy price movements closer to the sell trend-line of the 50-day SMA indicator.
The 50-day SMA is situated over the Bollinger Middle Band. The Stochastic Oscillators have slightly moved out northbound from the oversold zone to touch range 40 from below.
It has now been indicated that the pair would probably recover from its current low price valuation mark. That assumption could find a place in the market while confluences of price movements finally occur around $17 point majorly.
REP/USD Short-term Trend: Bullish
As at the first formation of a one-hour trading candlestick, the REP/USD recorded a notable hike in its journey to the north. But, the sudden upswing movement didn’t last long as it is subsided by the US dollar’s checkmating mote.
The 50-day SMA and the Bollinger Upper Band are located a bit below $18.50 mark. The Stochastic Oscillators have formed a conjoint outlook to possibly indicate that the market may see soon see range market movements.
The REP/USD market may achieve its full recovery as long as it doesn’t go down past $16 mark.
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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