• The short-term is in a bearish trend while the medium-term outlook is in a range-bound market.
• Patience is required during the consolidation phase.

REP/USD Medium-term Trend: Ranging

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

ANGUR remains in a range-bound market in the medium-term outlook. The pressure by the bulls within the range was strong resulting in the breakout from the upper supply area. The breakout occurred on 22nd June with REPUSD price rising to $19.62 in the supply area.

The bears' pressure returned the coin back within the range with a drop to $17.70 before the close of yesterday session.

Today’s 4-hour opening candle at $18.41 sustained the bearish momentum as price went down to $17.76

Price is below the two EMAs and the stochastic oscillator signal points down at 22% an indication of downward continuation in the cryptocurrency price within the range.

$19.00 is the upper supply area of the range while $17.50 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.

REP/USD Short-term Trend: Bearish

The bulls lost control of the market to the bears at $18.66 in the supply area as market rap up on 23rd June. $17.70 in the demand area was yesterday low while $18.48 was the high before the end of the session.

The bulls held the market briefly after today's opening with a push to $18.58 in the supply area around the trendline. Strong rejection is seen coupled with the wick as the bears stage a comeback.

REPUSD initially fell to $17.70 in the demand area with $17.30 as the bear target in the short-term.

The two EMAs are strong resistance against upward price movement with the signal of the stochastic oscillator pointing down at 28% an indication of downward price movement in the short-term.

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