Augur Price: REP in Prime Position to Buy? Monday, November 5th
Augur Price: REP in Prime Position to Buy?
Augur (REP) Market Technical Analysis
Currently, Augur (REP) is in a range bound and the beginning of an uptrend is expected. The price is above the 21-Day WEMA which acts as a dynamic support. At last tick, the RSI was at 58, further supporting that the price downtrend in the daily chart is broken, giving even more weight to the probability that a resumption in the uptrend is on the way very soon.
Augur (REP) Market Trading Strategy
While there remains a possibility of a temporary retracement into the suggested support zone of 14.00 to 11.00, this should not be something that you should worry about too much. If Augur (REP) does venture down into the support zone, you can simply set your orders so that they are based on the Price Action. In doing this, you will limit exposure and expect to reach short-term targets.
The support zone has clearly defined beginning and end points. The beginning of the entry zone is at 14.00, and the ending of the entry zone is at 11.00. Remember to wait for an entry signal after the price enters the zone. Once he price enters the support zone, wait until the first reversal pattern occurs. It makes no difference which reversal pattern it is, or that you use. Once the market shows the first sign of reversal, that is the optimum time to buy.
REP/USD Price Chart, Monday November 5th:
Excitement for One Coin Can Affect Other Coins
The entire cryptocurrency market seemed to get a jolt of electricity shot into it. The recent spike can be attributed, not to Augur, but to Bitcoin Cash, as the upcoming hard fork is causing speculation and a rush to get into position. Over the past few days, we have seen other coins start moves upwards, some downwards and some have not done much at all. Augur (REP) is enjoying a prime area for buyers to make some short-term profits. The exact reasoning behind why some coins fare better than others during times like this is not known.
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