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
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.