Augur (REP) Has Broken Out From Two-Year Long Resistance Line

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In Brief
  • The REP price is likely trading inside an ascending wedge.

  • There is strong support at ₿0.001725, while there is resistance at ₿0.0032 and ₿0.005.

  • REP has broken out from a long-term descending resistance line.

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At the beginning of June, the Augur (REP) price broke out from a descending resistance line that had been in place for almost 900 days. The price followed that up with a breakout above a significant resistance area. While it seems that REP has begun an upward trend, a short-term retracement could occur before the price resumes moving upwards. Weekly Outlook The weekly chart shows that

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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