DeFi Token wins over 50% according to Coinbase Listing – TRU, HEGIC & REQ analysis

TrueFi (TRU) broke a descending resistance line and hit a brand new all-time excessive on August twelfth. It is feasible that the rise was the results of the Coinbase itemizing.

Hegic (HEGIC) has damaged out of a descending resistance line and is making an attempt to transfer above the $ 0.28 resistance degree.

Request (REQ) broke the $ 0.175 space and hit a brand new 12 months excessive of $ 0.33 on August 12.

MINUS

The TRU has fallen together with a descending resistance line since February thirteenth. On August fifth it broke sharply on a big bullish bar and hit an all-time excessive of $ 1.

After a couple of days of correction, TRU began one other uptrend and hit a brand new all-time excessive of $ 1.04.

A excessive has been reached inside a key space of ​​resistance created by the exterior fib retracement degree of 1.61. A decisive transfer above it may end up in a pointy transfer in direction of USD 1.47.

The technical indicators within the every day timeframe are rising and supporting the continuation of the uptrend.

TRU / USDT every day chart | Source: Tradingview

Likewise, the technical indicators on the quick-time period 2-hour chart usually are not displaying any weak point. Additionally, TRU has made successively increased closing costs, an indication {that a} breakout is feasible.

TRU / USDT 2-hour chart | Source: Tradingview

Highlights

• TRU has damaged above a descending resistance degree.
• It is approaching a brand new all-time excessive.

HEGIC

HEGIC has been shifting alongside a descending resistance line since March fifteenth. After 5 unsuccessful outbreaks, it lastly broke out on August ninth.

It hit a excessive of $ 0.28 to date on August twelfth.

However, it failed to regain the 0.382 Fib retracement resistance, as a substitute a protracted wick emerged over it (purple symbol).

Despite the rejection, the technical indicators are nonetheless on the uptrend, indicating the potential of a breakout.

In this case, the closest resistance is at $ 0.42.

HEGIC / USDT every day chart | Source: Tradingview

A take a look at the shorter-time period six-hour chart reveals that there isn’t any clear help above $ 0.15 due to the sharpness of the uptrend.

HEGIC / USDT 6-hour chart | Source: Tradingview

Highlights

• HEGIC has damaged out above a descending resistance line.
• At $ 0.28, it encounters resistance.

INQUIRY

The REQ has risen since August tenth. In about two and a half days, it rose 380%, hitting a brand new annual excessive of $ 0.33 on August 14.

However, it has created a protracted high wick and is presently trading close to $ 0.24. If there’s a decline, the $ 0.175 horizontal zone is now anticipated to act as help.

However, the technical indicators within the every day timeframe usually are not but displaying any indicators of weak point regardless of the present overbought scenario.

REQ / USDT every day chart | Source: Tradingview

While the uptrend is large, the weekly chart reveals that the REQ did not even hit the 0.382 fib retracement resistance at $ 0.48. Therefore, this development can’t be considered as bullish.

Weekly REQ / USDT Chart | Source: Tradingview

Highlights

• REQ broke the $ 0.175 horizontal resistance space.
• On August twelfth it reached a brand new excessive for the 12 months.

You can see the Bitcoin price right here.

Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis fastidiously earlier than making a choice. We usually are not answerable for your funding choices.

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According to Beincrypto

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