Reef Finance (REEF) and TrustSwap (SWAP) Technical Analysis: What to Expect?
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Reef Finance
The DeFi-protocol on Polkadot is built with on-chain governance using REEF tokens. It also boasts seamless upgradability, complete with EVM compatibility.
Past Performance of REEF
REEF prices are trending higher. However, the momentum is slowing as per the candlestick arrangement in the daily chart.
Overly, buyers appear to be in control even with shrinking trading volumes and a retracement in the last trading day.
Day-Ahead and What to Expect
REEF/USDT prices are edging higher but are flat-lining reading from events in the daily chart.
While the slowdown provides an opportunity for traders to load the dips, targeting $0.02, there is a risk of pullback back to the middle BB in a retest.
Aggressive traders might see this as another opportunity to double down. However, for risk-averse traders, a close above last week's highs offer a safe entry.
REEF/USDT Technical Analysis
REEF/USDT prices are trading in a bullish breakout pattern following gains above the middle BB in the tail end of July 2021.
Accordingly, every low, technically, may provide an opportunity for traders to buy the dips, targeting $0.02 in the short term.
A pullback below $0.013 invalidates the uptrend. It may even see REEF prices stutter back to $0.01.
TrustSwap (SWAP)
The multi-chain platform offers a variety of DeFi solutions, including swapping and a launchpad. SWAP token is for governance.
Past Performance of SWAP
There is resistance for higher highs as per the candlestick arrangement in the daily chart.
However, the retracement doesn't cancel the defined uptrend. SWAP/USDT is within a bullish breakout pattern above the middle BB and $0.85.
At press time, SWAP is down four percent against the greenback.
Day-Ahead and What to Expect
Buyers must sustain the uptrend if buyers of late July are valid.
If not, SWAP/USDT could stutter back towards $0.60 in a pullback from around June and July 2021 highs.
Aggressive traders may find loading opportunities above $0.75 and middle BB. Losses below this line dash the bulls' drive.
SWAP/USDT Technical Analysis
Technical candlestick arrangement in the daily chart supports buyers.
Accordingly, as aforementioned, every low above $0.75 may offer loading opportunities with targets at $2.2.
On the flip side, sellers will flow back if the past two days' losses are confirmed. A break below $0.75 may see SWAP/USDT drop towards $0.60.