Will REI Network (#REI) Hold Its Ground or Take a Plunge?

2 lug

Yello, Paradisers! Have you been keeping an eye on REINetwork (#REI)? Our latest analysis suggests a critical moment is approaching. Let’s dive into the details.

💎#REIUSDT has been trading within a falling wedge pattern on the 1D timeframe. We've previously observed a failed breakout, which reinforces a bearish bias. Currently, #REINetwork is retesting the falling wedge's lower support level, and there is a possibility that it might drop further.

💎The diminishing trading volume and the POC of VRVP acting as resistance increase the chances of a further drop. If #REI fails to hold the support at the falling wedge's lower boundary, it's likely to retest the Bullish Order Block (OB) around $0.447.

💎However, if REI fails to hold at $0.447, the next support level to watch is at $0.325. This area is packed with liquidity and can create a good chance of a pullback if tested.

💎On the contrary, if the falling wedge's lower support level holds well, we could see the bulls taking control, leading to a bullish rally. The overall market sentiment and Bitcoin's movement will significantly influence #REI's price action, so keep a close eye on these factors.

Stay focused, patient, and disciplined, Paradisers.

MyCryptoParadise
iFeel the success🌴