• The medium-term is in a bullish trend while the short-term outlook is in a range-bound market.
• Traders may consider buying at demand area with bullish reversal candlestick as confirmation.

REP/USD Medium-term Trend: Bullish

Supply zone: $20.00, $22.00, $24.00
Demand zone: $10.00, $9.8.0, $9.60

ANGUR continues in a bullish trend in the medium-term outlook. The bulls sustained the momentum until $17.88 in the supply area before the pressure weakened. The bears took control of the market with a confirmation of the takeover on 10th July with a large bearish engulfing candle as price plunges down to $17.88 in the demand area.

$13.80 in the demand area was the low of yesterday session as the bears maintained dominance. The bulls are back in control as the market opens today at $14.24. REPUSD rose to $14.88 in the supply area.

The 38.2 fib area at $17.88 is the bulls’ initial target while the 50.0 fib area is the next target as the bullish momentum increases in the medium-term, indicated by the signal of the stochastic oscillator pointing up in the oversold region.

REP/USD Short-term Trend: Ranging

The target at $17.80 in the supply area predicted in the last article was attained on 9th July. The coin had witnessed a downward price movement with $13.93 in the demand area as the low during yesterday session as its ranges.

The bulls are in control of the market within the range as the market open today at $14.14 as price rose to $14.81 within the range. The signal of the stochastic oscillator points up at % an indication of upward momentum in price within the range in the short-term.

The cryptocurrency is ranging and trading between $15.50 in the upper supply area and at $14.00 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.