Long
Reef Finance (Reef)/USD
Updated
A few weeks ago I did a segment on my show (links on profile page) about Reef Finance. This may be the perfect opportunity to get in on a low cap Defi coin like Reef. They have recently formed a strategic partnership with TRON (TRX), one of my favorite cryptocurrencies. Not only this, but they are powered by Polkadot, who has recently become a top 10 project. Reef provides Defi applications like staking, bonds, stablecoins, money markets, DEX's and liquidity bridges.
Analysis: Ever since being introduced to Binance, Reef token has failed to break out of the ascending triangle, heading through the downside. This is the perfect opportunity to go long on Reef. Not many Defi tokens under 3 cents worth investing in. Reef might be a great opportunity especially with so many integrations including Avalanche, Cosmos, Binance Smart Chain, and Ethereum.
Hidden Bullish Divergence: Reef is showing a hidden bullish divergence as the RSI has found a lower low after the breakdown of the ascending triangle. The price however is showing a higher low. Matter of fact, the RSI is the lowest its been since being listed on Binance. There could be a little more downside but not for long. In my opinion this is a great opportunity to get some Reef. Just my opinion.
Analysis: Ever since being introduced to Binance, Reef token has failed to break out of the ascending triangle, heading through the downside. This is the perfect opportunity to go long on Reef. Not many Defi tokens under 3 cents worth investing in. Reef might be a great opportunity especially with so many integrations including Avalanche, Cosmos, Binance Smart Chain, and Ethereum.
Hidden Bullish Divergence: Reef is showing a hidden bullish divergence as the RSI has found a lower low after the breakdown of the ascending triangle. The price however is showing a higher low. Matter of fact, the RSI is the lowest its been since being listed on Binance. There could be a little more downside but not for long. In my opinion this is a great opportunity to get some Reef. Just my opinion.
Trade active
Nice bounce off of main trend line. We will keep this trend line active for now.Note
We have a nice looking impulse wave to the upside with a spike in volume. Everything is looking good.
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