Based on the REEF/USDT chart, it is clear that the price is in a strong downtrend with a significant drop of about -63.06%.
Technical Analysis:
1. Moving Average (MA):
• MA7: 0.006411 USDT and MA25: 0.005813 USDT, indicating that the current price is falling deeply below these short-term moving averages.
• MA99: 0.002501 USDT, indicating that the long-term support level may be being tested.
2. MACD: Currently, the MACD is negative (-0.000454) and below the signal line, which is a strong sign of a downtrend.
3. RSI: The RSI(6) is 28.32, which is the oversold zone, while the RSI(12) and RSI(24) are also below 50, indicating that the price may continue to fall further before recovering.
Conclusion:
• Current trend: The strong downtrend is still dominant. In the short term, if the price does not recover above the MA99 level, the possibility of further decline is very high.
Keep a close eye on recovery signals if any and manage your risk appropriately.
