In this Reef technical analysis, we will examine the current price action, trading volume, key levels and indicators for REEF-USDT. Reef is a decentralized platform that enables users to create and manage their own blockchain-based ecosystems. It utilizes a novel consensus algorithm called “proof of capacity” which allows for faster and more energy-efficient transactions compared to traditional proof of work algorithms. With Reef, users can easily deploy and manage their own blockchain applications, making it an ideal solution for businesses looking to leverage the power of blockchain technology.
Reef Price Overview:
As of May 08, 2024, Reef is trading at approximately 0.002 USDT. Let’s dive into the detailed price action for REEF-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.00198 |
| High (H) | 0.00202 |
| Low (L) | 0.00193 |
| Close (C) | 0.002 |
| Volume (C) | 597,996,609.00 |
- Open (O): The opening price for today’s trading session was approximately 0.00198 USDT.
- High (H): Reef reached a daily high of around 0.00202 USDT.
- Low (L): The daily low for REEF-USDT was approximately 0.00193 USDT.
- Close (C): At the time of analysis, Reef is trading near its daily close of 0.002 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.01% |
| 3D Change (%) | -4.71% |
| 7D Change (%) | 2.35% |
| 30D Change (%) | -43.02% |
| 90D Change (%) | 37.53% |
| YTD Change (%) | -7.36% |
Over the past three days, REEFUSDT has dropped by approximately -4.71%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.35%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with REEFUSDT maintaining a downward trend of approximately -43.02%, despite intermittent fluctuations. Examining the last 90 days, REEFUSDT has witnessed substantial rise of approximately 37.53%, reflecting strong long-term confidence. Year-to-date, REEFUSDT has steadily declined by around -7.36%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Reef Live Chart:
You can access a live price chart for REEF-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.58808.
- Momentum score is 0.02721.
REEF USDT Technical Analysis
Reef Trading Volume:
The trading volume for Reef (REEF) over the past 24 hours has been insignificant, with approximately 597,996,609.00 USDT traded against REEF. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): REEF is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Reef is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for REEF-USDT is currently in the low zone, around 44.10115. This suggests that Reef is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Reef (REEF-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate Reef’s (REEFUSDT) potential downturns at 2.00e-03 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.