Reef Finance and Swipe prices are firm, backed by recent gains. REEF/USDT buyers aim at $0.02, while SXP/USDT bulls expect an expansion towards $3. Reef Finance (REEF) The Polkadot-based, interoperable protocol aims to bring several DeFi solutions to its users. REEF is its governance token. Past Performance of REEF From a top-down perspective, REEF prices are under pressure, sliding over 80 percent from H1 2021 peaks. As of writing, REEF is up ten percent on the last trading day despite a contraction in trading volumes. Technically, REEF/USDT could slide if buyers fail to overcome immediate resistance lines per price action in the daily chart. Day-Ahead and What to Expect Overly, the path of the least resistance is southwards as long as prices trend below $0.02 in the medium term. The middle BB is the primary resistance level, temporarily capping buyers, placing bears at the forefront. On the lower end, $0.01 is the main support level at around the 78.6 percent Fibonacci retracement level of the H1 2021 trade range. REEF/USDT Technical Analysis REEF is flourishing and firm above the middle BB as buyers confirm gains of early this week. Technically, buyers are in control from a top-down approach. As such, in the immediate term, every low for REEF provides a buying opportunity for bulls expecting confirmation of the double bar bullish reversal pattern of July 20 and 21, targeting $0.02. Swipe (SXP) The SXP token acts as fuel for the Swipe ecosystem. Their objective is to link the crypto and traditional world, using the former to effect payments. Past Performance of SXP SXP/USDT prices are moving inside a descending channel. At the time of writing, SXP is stable, adding three percent on the last trading day. Even so, SXP prices are bearish below $2 as per the candlestick arrangement in the daily chart. Day-Ahead and What to Expect Traders expect SXP prices to expand above the descending channel, preferably with a spike in trading volumes. The follow-through will confirm gains of July 20 and 21, setting the foundation of another leg up towards $3 in a buy trend continuation pattern, signaling the end of the brutal bear reign. SXP/USDT Technical Analysis SXP prices are wavy, inside a descending channel as trading volumes dry up despite optimism earlier this week. While risk-off traders can load the dips targeting $3 in the medium term, risk-averse traders can keep their cards close to the chest and wait for a conclusive close above the descending channel. In that case, a close above $2 increases the odds of a fast expansion towards $3.
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