After ETH making consistent ATH’s and holding itself together, its time to look for a few tasty ALTs that might out-perform the market in the coming weeks. REEF is a dark horse contender after the price never truly recovered from the mid-March twitter drama FUD. From a fundamental standpoint, buying after a bad news period that did not include the product is generally a profitable play.
However, from a purely PA standpoint, the coming week will be a big one for REEF’s hopes of playing with the big boys.
There are two possible outcomes from the recent PA that will result in a bullish set up into the coming ALT-SZN. After the white support trend line was broken it flips to support and needs to be broken before we can confirm full elon sned.
In scenario 1 price will follow the blue candle and the new trend straight through the barrier and confirm destination mars. In this case the break of the cross trend lines will confirm a long signal.
Scenario 2 is a little more reserved and sees us bouncing off the resistance. This bounce could carry us all the way down to the blue support line before coming back for another retest of the weaker white downward trend.
Both scenarios are still bullish so long as the blue floor hodls. Either way, the future looks moonish for REEF.
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