• The REP/USD market may encounter a selling force around $19 horizontal line if a false spike occurs at that point.
• Overall sentiment about this market is that it has been on a note of recuperating from selling pressure.

REP/USD Medium-term Trend: Ranging

• Distribution territories: $20, $21, $22
• Accumulation territories: $16, $15, $14

The current medium-term ranging trend of the REP/USD market appeared to have begun on the last 4-hour candlestick formation on June 9. In the previous trading sessions, the pair experienced a decline in the market after testing a high point around $21 price territory.

The trading indicators are all moving to the east to solidify the status of present range movements in the market. In no contradiction, the Stochastic Oscillators have also been swinging around ranges 40 and 20 to show the range momentum of the market.

The bears still seem to possess the potential of pushing the market southwards further while the market keeps lacking the capacity to hold above $19 horizontal line. Meanwhile, $17 mark could be a good zone for the bulls to muster up a foundation around it.

REP/USD Short-term Trend: Ranging

There have been basically major ups and downs in a range in the market operations of the REP/USD short-term trend today. Yesterday’s trading sessions witnessed a kind of rises from a low market point around $18.20 mark to obtain a high value at around $18.65 or thereabout.

All the indicators are now trending in line with the market’s current range moving mode. The Stochastic Oscillators also now move in a consolidation around ranges 60 and 40.
The overall bias as regards this crypto-market is to watch out for a decent buy set-up while prices move down to test the Bollinger Lower Band trend-line.

Augur:

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