Augur Technical Analysis: REP/USD back above $18 after a 10% bull surge
|- REP/USD is trading just above $18 again after an $18.52 high on June 19.
- Augur is inside a robust daily uptrend.
Augur is in a clear and strong uptrend and is not facing many resistance levels. REP/USD is up 224% since its 2020-low in March. The overall trading volume for Augur has been increasing significantly in 2020 compared to previous years. Augur was barely seeing $10 million in trading volume in 2019, now it’s hitting $30 million on average.
REP/USD daily chart
-637281966870637834.png){kind=link}
Not much to say about this chart as bulls are clearly dominating even when the RSI is overbought. If there is a pullback, buyers will look for the 12-EMA support at $15.77 but anything above $13.59 is simply a higher low and a continuation of the daily uptrend.
REP/USD 4-hour chart
The 10% bull move happened over the course of 20 hours which indicates it’s a strong move and a lot of buyers are jumping in. The RSI is also overextended here and healthy consolidation could follow next. Again, support is around the 12-EMA at $16.19 but even here, anything above $15.47 is a higher low and the uptrend would remain intact.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.