Quite a volatile REEF cryptocurrency, which in October 2021 at increased volumes tried to update historical highs now in complete depression. The REEF price has broken an important price range of $0.0147 and is confidently moving within the fall channel. In the weekly timeframe, we see that the candle of 7 February tested the $0.0147 bottom range. This fact confirms the dominance of sellers in the REEF market, even at local lows. The probability that the price will fall by about 25-30% and will hit the lower trend line of the fall channel is quite high. https://www.tradingview.com/x/jLa6qSx0/ In addition, trading volumes at lows are too low to reflect on market reversals. The only positive outcome of the REEF market without updating the lows is the organization of global consolidation in the range of $0.009-$0.0147. Only in this case, low trading volumes will be justified and buyers will get a chance for a new growth wave with the first target of $0.021. Technical Analysis Of REEF On The Daily Timeframe https://www.tradingview.com/x/3NFg6n3U/ Analyzing the REEF price movement on the daily timeframe, we can see the attempt of buyers to change the market situation. On 10 February, the REEF price for some time went beyond the strong trend line of sellers. At increased daily volumes, buyers attacked the trend line, which provoked a new local fall wave. Now the REEF price is close to local support, where buyers have formed a small ...
