Warning of Correction Given for Altcoin That Has Risen 1200 Percent in the Last Month
A cautionary statement has been issued by cryptocurrency analysts for the altcoin REEF, which has experienced a remarkable surge of over 1,200% in just over 30 days.
Alphractal, a cryptocurrency analytics firm, has pointed out the increased risk associated with REEF and has warned of a potential market correction.
The analysis by Alphractal has highlighted several risk factors, including the distance from key moving averages, the long/short ratio, derivatives volume/market cap ratio, and funding rate and MACD indicators. These indicators suggest that REEF may be entering a “pullback zone” as it seeks new buying demand.
This analysis is not investment advice, but it underscores the potential volatility and risk involved in trading REEF. For those interested in investing in a wide range of cryptocurrencies, Binance exchange offers a 20% commission discount. Stay up to date with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.