Will the Hype Sustain or Fade?
During the early Asian period on Tuesday, the price of the liquid-recovered token Rez increased by 10%. The double-digit rally was announced at Coinbase after Coinbase announced the addition of its roadmap to list.
However, the hype following this announcement may soon begin to fade. This will lead Rez to get rid of some new gains and continue its lateral movement.
Rez jumped 10% on Coinbase News, but Bears stayed in control
Rez soars by 10% after Coinbase Announce The increase in tokens in their listing roadmap. While the official release date has not been confirmed, the exchange’s move marks the first step in integrating Altcoin into its platform.
But as Rez Bears continues to dominate its spot market, the excitement surrounding this announcement may soon begin to fade away. Token Super Trend Indicator Setting Confirmation This bearish view.
At the time of writing, REZ’s super-trend indicator forms dynamic resistance above its $0.020. This indicator tracks the direction and intensity of asset price trends. It is a line on the price chart that changes the color to represent the current market trend: the green of the uptrend and the red of the downtrend.
When the asset’s price trades below the supertrend indicator, it is on a bearish trend. This suggests that market participants prefer to sell their holdings rather than accumulating new tokens. Traders interpret this as a sell signal or warning to exit the long position and occupy a short position.
Another indicator of the bearish sense of REZ is that its positive direction index (+DI) is lower than its negative direction index (-DI). When the asset’s directional motion index (DMI) is set in this way, it indicates that bearishness is stronger than bullish momentum.
This shows that Rez sellers dominate the market, increasing the likelihood of continuing downward price transfers.
Rez faces fragmented moments
If bearish pressure strengthens, REZ takes risks Drop All-time low $0.013. For context, altcoins hit such a low status at an early meeting on Tuesday and only rebounded in Coinbase News.
However, if Rez’s demand soars, its price could exceed the resistance formed by its supertrend indicator at $0.020. A successful violation of this level may increase the altcoin to $0.026.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
