REEF USDT NEW UPDATESimilar to the bitcoin pattern
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REEFUSDT trade ideas
REEF/USDT Update: New entry at a discountLike the whole market also REEF did see a major pullback despite recent bullish news.
This is the opportunity to buy REEF at a previous support level like 0.023 or 0.016.
Currently the whole market is in panic mode but once the dust settles and people realise that they should take FUD too seriously they start investing again.
The RSI currently is closer to the oversold region.
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.
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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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
REEFUSDT
Hello to you all. Mars Signals team wishes you high profits at all times.
The price is trapped in a triangle. If it breaks on any side, the price starts moving in that direction.
Warning: This is just a suggestion to you and we do not guarantee profits.
Wish you luck!
REEFUSDT waiting for the breakout! 🦐 The price is testing the weekly support and the 4h trendline. IF the price will have a breakout, According to Plancton's strategy (check our Academy), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Where to next for REEF?As has been seen several times this year, Reef takes a hammering when BTC's price goes attention seeking. Nearly all of Reef's big pull backs can be attributed to BTC, rather than anything to do with the project itself. Recovery, albeit slow, has always come though. Reef has shown that it can seriously pump too.
Happily, buying volume today points in the direction of reassurance about how Reef is viewed following yesterday's BTC tantrum, perhaps because Reef's fundamentals are going from strength to strength.
In particular, the launch of the canary network version of the Reef mainnet has just been announced for the end of this month. The transition from canary network to full operation is expected to be swift. As well as this Reef will likely be a prominent part of the Polkadot cryptospace when it launches. Gavin Wood has indicated this launch too is now not far away - it will quickly follow the stable launch of parachains on Kusama. Reef will also have EVM compatibility, enabling it to work with both Ethereum and Polkadot. If that isn't enough, Reef will form it's own ecosystem, with other projects looking to build on the Reef chain - driving token demand.
I think Reef is an increasingly strong project: a purpose built defi ecosystem that also that acts as a link between Ethereum and Polkadot.
Regardless of the direction taken by BTC and the cryptomarket over the coming weeks and months, anything connected to the launch of Polkadot has the potential to do better than average in the short to medium term. Reef's roadmap has some incredible potential in it for later this year too - Reef baskets for the Steam gaming network are one very intriguing example - the potential for NFTs in the traditional computer game space is lucrative to say the least.
With a current marketcap of $330M, a doubling in value would take the marketcap to just over Reef's ATH, however as both Reef and Polkadot's projects actually start trading properly, there must be potential to do comfortably more than that.
- 3.5x returns with in 4 months on cards - REEF has the potentiaReef Finance to be frank is not just another project that not able to live up hype, as REEF probably one of the logical projects that launch on Binance launchpool. REEF utilized polkadot consensus algorithm and also uses its security model and forkless upgradability. Polkadot has continue to dominate blockchain and it blockchain continue to integrated with different that project also gaining similar response. REEF has unique vision to solve problem on Decentralized Finance specially in yield farming and liquidity providing.
FRESH ANALYSISCORRECTION ON BTC AND THE CRYPTO MARKET IN GENERAL, ARE WE STILL GOING TO BE IN THE RANGE? DON'T PANIC. MAINNET MIGHT BE POSTPONED OR BE WITHIN MAY, BUT SOMETHING LIKE MAINNET WILL BE LAUNCHED IN MAY.
REEF - Got support (As you asked)So REEF actually made into the lowest price range expected. I don't think it can go further down, but since the market (as you know) is being manipulated: There are 3 support areas shown on the chart (1 = Weakest | 3 = Strongest) in case the price dumped even more.
If you're into opening long positions, wait for the price to cross the resistance area and right after the first 4H confirmation above resistance, you can open long positions.
Good Luck 🎲
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