EagleFX

Bitcoin price is leading the crypto market cap higher and it recently climbed towards the $13,200 level. A few small cap coins rallied today, including REP, WTC and BZNT.

  • Bezant (BZNT) surged more than 200% to enter the top 100 cryptocurrencies list by the market cap.
  • Augur (REP) is up around 12% and it broke the key $15.00 resistance area.
  • Waltonchain (WTC) gained nearly 15% to climb above the $2.50 resistance area.

Augur Price

Augur (REP) Price Analysis

This past week, there was a sharp decline in augur price below the $17.50 and $15.00 support levels, whereas bitcoin kept rising. REP price declined below $13.50 and even traded close to the $12.50 level.

Augur (REP) Price Analysis Chart

Click to Enlarge Chart

Looking at the 4-hours chart of REP/USD, the pair formed a swing low near the $12.57 level and recently started a fresh increase. It broke the key $14.00 resistance area to move into a positive zone.

There was also a close above the $15.50 level and the 25 simple moving average (4-hours). The price even climbed above the 50% Fib retracement level of the last decline from the $19.57 high to $12.57 low.

The price is currently up around 12% and it recently ran into a major resistance near the $17.25-17.50 zone. Moreover, there is a crucial bearish trend line forming with current resistance near the $17.20 level.

The 61.8% Fib retracement level of the last decline from the $19.57 high to $12.57 low is also acting as a resistance. Therefore, a successful close above the $17.20 and $17.50 levels could open the doors for more gains in the near term.

The next key resistance above $17.50 could be near the $18.80 level. The main hurdle for the bulls could be near the $19.50 and $20.00 levels.

Overall, augur price is likely to continue higher once it settles above the $17.50 level. Conversely, if there is a downside correction, REP may find bids near the $16.20 and $16.00 levels. The main support on the downside is near the $15.20 level plus the 25 simple moving average (4-hours).

The market data is provided by TradingView, Coinbase.


Buy Crypto    Trade Crypto
eToro Risk Warning: 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Avatar

Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Leave a reply

Your email address will not be published. Required fields are marked *