Reef Finance finally broke out of its latest downtrend that now lasted over a month. The support around 0.0165$ held and we got a nice bounce that pushed us through the downtrend trendline. Next resistance lines are at 0.036$ and 0.05$. We spot a similar pattern on the RSI where we expect the next resistance to be around 70.
Currently 16 billion REEF tokens out of 20 billion are in circulation. This is good in terms of inflation risk, meaning there is basically none.
The current price level looks like a nice entry for a long position.
Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Wait for the breakout.
Thanks for sharing 🦐