Augur / TetherLong
REPUSDT to $90?
Augur/REP has stayed since the previous crypto cycle - which is a positive sign. A good way to find reliable price levels for legacy coins, is using the Fib retracement tool - from previous ATHs to Cycle Lows.
But the trading data from feb 2018 - jan 2019 is not complete, I do not know the reasons why but it means that the visible ATH & Cycle low may not be precise. So I have drawn the Fib retracement (in light red) so that the Fib levels meet points where there has been maximum price action.
$25.55 marked in orange has acted as a price level where price has been supported & rejected during major trends; most recently on 21july2020 - indicated by the blue flag. It is also confirmed by Fib level 0.618(red)
REPUSDT started a major uptrend from 21/3/2020 indicated by pitchfork [parallel uptrend lines] and had been accumulating slowly till it topped out at major S/R level $25.7 - crashed to $11.8 and then ranged before commencing uptrend from 4/5th nov2020.
I used the 'Trend based fib extension' on these price levels indicated in light green - the price has faced major resistance at Fib lebel 1.618( $41.2) but is being compressed in an ascending triangle. Indicated are current zones of resistance & support.
......
Prediction:
We should see the price compress further within the ascending triangle. A breakout above $41 with retest can signal a major rally.
Trend based fib extension shows $77-$88 as peaks of first cycle.
A parallel channel drawn taking cycle low ($7.5) as channel bottom & taking major S/R level $25.7 as channel median, gives channle top at roughly $87.
These price levels are well within ATH of REPUSDT - an easy gain of 100-150% if there is a bullish breakout from the ascending triangle, above $41
Note: Can be a slow coin, good for long term hold upon confirmation above $41
But the trading data from feb 2018 - jan 2019 is not complete, I do not know the reasons why but it means that the visible ATH & Cycle low may not be precise. So I have drawn the Fib retracement (in light red) so that the Fib levels meet points where there has been maximum price action.
$25.55 marked in orange has acted as a price level where price has been supported & rejected during major trends; most recently on 21july2020 - indicated by the blue flag. It is also confirmed by Fib level 0.618(red)
REPUSDT started a major uptrend from 21/3/2020 indicated by pitchfork [parallel uptrend lines] and had been accumulating slowly till it topped out at major S/R level $25.7 - crashed to $11.8 and then ranged before commencing uptrend from 4/5th nov2020.
I used the 'Trend based fib extension' on these price levels indicated in light green - the price has faced major resistance at Fib lebel 1.618( $41.2) but is being compressed in an ascending triangle. Indicated are current zones of resistance & support.
......
Prediction:
We should see the price compress further within the ascending triangle. A breakout above $41 with retest can signal a major rally.
Trend based fib extension shows $77-$88 as peaks of first cycle.
A parallel channel drawn taking cycle low ($7.5) as channel bottom & taking major S/R level $25.7 as channel median, gives channle top at roughly $87.
These price levels are well within ATH of REPUSDT - an easy gain of 100-150% if there is a bullish breakout from the ascending triangle, above $41
Note: Can be a slow coin, good for long term hold upon confirmation above $41
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