REEF/USDT Getting ready for a breakout. All signs show upwards🚀
Intro:
- Reef Finance tries to become one of the most used blockchains for DeFi.
It's fast, scalable and has a low transaction costs.
Reef Finance is build with Polkadot Substrate and comes with on-chain governance.
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
- In circulation we have 13billion coins out of possibly 16-20 billion. Therefore we don't expect a strong pullback due to inflation.
- Total market cap is around 400million which seems too low.
Daily chart:
- Price shows a consolidation around the 0.03$. We did retest the old resistance around 0.025$ which turned into support.
- Volume shows a price spike together with price appreciation. Often times this is followed by a second round of prices spikes so we are watching closely. The chances we see this during the next days are pretty good.
- RSI analysis shows that bounced back from the red 80 line. We found support around the 50 line and get ready to go back up again.
- Support lines are at 0.025$?, 0.02$, 0.0165$ and 0.0135$. The ascending yellow line can act as support as well.
- Resistance lines are at 0.05$. Clear sky lies beyond.
Expectation:
- We expect another leg up after the current consolidation. All signs show strength and upwards momentum.
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- We expect some consolidation around 0.03$ before we get through and a struggle around 0.05$. So far we see exactly that.
- End of the year prediction: We will see a 0.3$+ REEF before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
- Reef Finance tries to become one of the most used blockchains for DeFi.
It's fast, scalable and has a low transaction costs.
Reef Finance is build with Polkadot Substrate and comes with on-chain governance.
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
- In circulation we have 13billion coins out of possibly 16-20 billion. Therefore we don't expect a strong pullback due to inflation.
- Total market cap is around 400million which seems too low.
Daily chart:
- Price shows a consolidation around the 0.03$. We did retest the old resistance around 0.025$ which turned into support.
- Volume shows a price spike together with price appreciation. Often times this is followed by a second round of prices spikes so we are watching closely. The chances we see this during the next days are pretty good.
- RSI analysis shows that bounced back from the red 80 line. We found support around the 50 line and get ready to go back up again.
- Support lines are at 0.025$?, 0.02$, 0.0165$ and 0.0135$. The ascending yellow line can act as support as well.
- Resistance lines are at 0.05$. Clear sky lies beyond.
Expectation:
- We expect another leg up after the current consolidation. All signs show strength and upwards momentum.
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- We expect some consolidation around 0.03$ before we get through and a struggle around 0.05$. So far we see exactly that.
- End of the year prediction: We will see a 0.3$+ REEF before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
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