REEF today’s market analysis:
1. K-line pattern:
- The price has shown an obvious upward trend recently, especially starting from August 31, 2024, it has closed positive for several consecutive days.
- There was a large surge on September 2, followed by a correction on September 3, but the overall price was still at a high level.
2. Technical indicators:
- MACD: The MACD value gradually decreases, showing that the strength of the bulls is weakening and it is possible to enter an adjustment period.
- RSI: The RSI value is close to the overbought range (59.508579), but it has not completely entered the overbought zone. You need to be wary of a possible correction in the short term.
- EMA: The current price is above EMA7 and EMA30, indicating strong short-term and medium-term moving average support; EMA120 is far below the current price, and the long-term trend is still bullish.
3. Trading volume:
- The trading volume increased significantly on September 2, reaching 530424100387, indicating extremely high market activity.
- Trading volume decreased on September 3, but remained at a high level, indicating that market participants are still active.
【Buy and sell point】
- Buying point one: 0.00105 USDT (reason: close to the low point of the previous band, and it is an integer point, with strong support)
- Buying point two: 0.00100 USDT (reason: integer point, strong psychological support, and close to EMA30)
- Long stop loss point: 0.00095 USDT (reason: 5 units below the buy point two, a protective stop loss set up to prevent false breakthroughs)
- Selling point one: 0.00120 USDT (reason: close to the high point of the previous band, and it is an integer point, there is a possibility of selling pressure)
- Selling point two: 0.00125 USDT (reason: round number point, great psychological pressure, and close to the recent highest price)
- Short stop loss point: 0.00130 USDT (reason: 5 units above the selling point two, a protective stop loss established to prevent false breakthroughs)
