REP / USD Price Analysis: Short-term Pressure
Augur is under short-term pressure, but its general outlook remains bullish for the medium-term.
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- Augur is under pressure in the short-term after falling below its 200-period moving average on the four-hour time frame
- The four-hour time frame also shows a valid inverted head and shoulders pattern
- A large inverted head and shoulders pattern is present across the daily time frame
Augur / USD Short-term price analysis
Augur has a bearish short-term outlook, with the cryptocurrency now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows an inverted head and shoulders pattern, with REP / USD buyers repeatedly failing to move price above the neckline of the bullish pattern.
Technical indicators on the four-hour time frame are starting to turn lower alongside the recent decline in the REP / USD pair.
REP / USD H4 Chart by TradingView
Pattern Watch
Traders should note that the August 2018 monthly high is the upside target of the inverted head and shoulders pattern on the four-hour time frame.
Relative Strength Index
The RSI indicator on the four-hour time frame has turned bearish as downside pressures increase.
MACD Indicator
The MACD indicator has turned bearish on the four-hour time frame and is starting to issue a sell signal.
Augur / USD Medium-term price analysis
Augur has a bullish medium-term trading bias, with the REP / USD pair still trading well above its 200-day moving average on the four-hour time frame.
The daily time frame continues to show a large inverted head and shoulders pattern, with the REP / USD pair consolidating around the neckline of the bullish pattern.
Technical indicators on the daily time frame have turned bearish and are currently generating a sell signal.
REP / USD Daily Chart by TradingViewPattern Watch
Traders should note that the July 23rd, 2018 swing-high is the overall upside target of the inverted head and shoulders pattern on the daily time frame.
Relative Strength Index
The RSI indicator on the daily time frame is trending lower as downside pressures increase.
MACD Indicator
The MACD indicator on the daily time frame has turned bearish and is generating a sell signal.
Conclusion
Augur may start to drift lower in the short-term after falling below key technical support on the four-hour time frame.
Continued failure to surpass trendline resistance on the daily time frame may start to weigh on the REP / USD pair, although the overall medium-term trend is resoundingly bullish.
Check out our coin guide for Augur’s decentralized prediction platform.
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