This Reef Technical Analysis (REEF) 2021 is based on the study of technical indicators. In the following we have outlined the most important factors that contributed to our REEF price analysis.

Reef is a decentralized financial platform (DeFi) based on Polkadot. It aims to enable cross-chain trading. The project’s offerings include a yield machine and an intelligent liquidity aggregator. The project began in the second half of 2020. Reef supporters claim that crypto trading, lending and staking are fragmented, causing all participants to experience “painful results”.

Reef offers liquidity aggregation and automation. In addition, the shortcomings of existing trading platforms are to be remedied. Unlike centralized exchanges, decentralized competitors tend to lack liquidity and can be difficult to service.

REEF Current market position

According to CoinGecko, at the time of writing this REEF technical analysis, REEF is trading at $ 0.029 with a 24-hour trading volume of over $ 3,276,643,336. This means that the price of REEF has increased by over 50% in the last 7 days.

REEF token has an offer currently in circulation of 14.74 billion REEF. For those interested in buying the token, REEF can be bought and sold on Binance, Huobi Global, FTX, Mandala Exchange, and CoinTiger.

Technical analysis of the REEF

Currently, REEF ranks 184th on CoinGecko in terms of market capitalization. Do you think that the latest upgrades, changes and developments in the REEF blockchain can help the price of cryptocurrency get higher? Now let’s move on to the chart in this REEF price prediction article.

REEF / USDT ascending scallop pattern (Source: TradingView)

As shown above, REEF turned its bear-to-bull trend earlier this month. A high volume of trading was recorded during this period. In addition, REEF showed an ascending scallop pattern in the daily time frame.

Usually this pattern accompanies an uptrend, but there are some cases when it can change and turn into a downtrend. In fact, the formation of this pattern in the graph above took place over the last month.

Ripple Technical Analysis – MACD, RSI, MA, EMA

When it comes to the Convergence / Divergence of the Moving Average (MACD), the MACD is just below the signal indicator causing a bearish crossover. This means that traders and investors can expect bearish days. However, if the MACD is pointing up, we may expect more bullish days.

REEF / USDT MACD and Relative Strength Index REEF / USDT MACD and Relative Strength Index (Source: TradingView)

Additionally, the Relative Strength Index (RSI) is at 70.75, which shows that REEF is in an overbought state. As a result, traders need to trade safely as a major price reversal could take place soon.

REEF / USDT 50-day MA and 30-day EMA REEF / USDT 50-day MA and 30-day EMA (Source: TradingView)

The graph above shows the 50-day moving average and the 30-day exponential moving average of REEF. REEF is currently in a bullish state. It is noteworthy that the REEF price is above 30-MA and 50-EMA, so it is completely bullish. Therefore, there is a high probability of a trend reversal at any time.

Technical analysis by Ripple – RVOL, ADX, RVI

Since the beginning of 2021, REEF’s price has seen many upward moves that are higher than the previous one. In addition, consolidations, fluctuations and corrections often follow immediately.

REEF / USDT RVOL REEF / USDT RVOL (Source: TradingView)

The graph above shows the Relative Volume (RVOL) of REEF. It is an indicator that shows traders how the current trading volume has changed over time compared to the previous trading volume. Currently, REEF’s RVOL is below the cutoff line, which indicates the weaker participants in the current trend. Now let’s look at REEF’s Average Directional Index (ADX).

Above is a chart of the Relative Volatility Index (RVI). In detail, RVI calculates the standard deviation over a period and not the absolute price changes over this period. The RVI is above 50, indicating that volatility is up.

diploma

REEF 2021 technical analysis shows that cryptocurrency has a fantastic future ahead of it in 2021. Plus, the project looks promising as it has lofty goals, a use case, and clear goals targeting a broad market.

Bullish REEF price prediction 2021 is $ 0.5. REEF could also hit new all-time highs if investors decided in 2021 that REEF was a good investment. Additionally, along with increasing adoption, positive price forecasts and a community of thousands of retailers, REEF is likely to be a good investment this year.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of CoinQuora. None of the information in this article should be construed as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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