Augur (REP) Leading The Bullish Charge As The Market Struggles To Recover - Price Analysis
Augur Leading The Bullish Charge As The Market Struggles To Recover
Today, October 13, the market is showing signs of recovery. After a hectic past 48 hours that saw the general market bleed billions of dollars, things are finally starting to look up.
Augur, in particular, was on October 10 steadily trading at just over $13.00. It had been trading at this level for well over 4 weeks and during the time had set its support level at $12.20. When the bearish market hit on October 11, Augur first dropped from $13.32 to $12.25. This was a positive sign and many thought that the bulls would be able to turn it around before it hit the support level. The coin tried to find some ground here as the bulls fought for this position but the effort was futile.
Yesterday saw the coin continue to drop and then make a recovery that might have triggered a positive momentum. After holding on to the $12.25 position and seeing some sideways action for a couple of minutes, the bears took over again. The coin dragged on further below and hit a new month low of $11.24.
Luckily, the bulls found support at this level and prices were able to recover. For the next few hours, the coin surged on higher to hit just over $12.00, where it saw some sideways action for another couple of hours before finally ending the day with the bears pulling it again just below $12.00.
Today is a new day and things are looking bright. Although bitcoin is still trading below $6,300 and the last 48 hours has seen almost all cryptocurrencies lose their positions, many of them are showing positive signs. Many are recording price gains of about 1% to 12%. Augur, in particular, is leading the race and in the last couple of hours has gained by 10.11%. At the time of writing this, the coin is trading at $12.58.
The positive momentum is expected to go on throughout the day and if the bulls can continue holding up the market, could see Augur recover its position at over $13.00.
REP/(USD, BTC) Price Chart, Saturday October 13th:
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