AUGUR/REP is one of those altcoins that, in comparison with other more explosive ones, have been very quiet since its best times on June this year...
Actually, since almost three weeks ago, REP has started recovering from a long correction and nowadays it is at very same price level as it was on mid June, so, around 34 USD.
I'm starting to feel more comfortable now because I bought some on May and some more on June, and, as you can understand I was really waiting for this moment to recover a/ little...
Nevertheless, the expectations for me has changed on regards REP and now I will present you what is my "vision" on that:
Long time Indicators/Patterns
- Bullish Trend lines: Looking at the 1W-chart
- Triangular Pattern Broke (by 16th of November) (1day-Chart)
- Double-bottom cup (and handle?):
Something like this:
Looking at the 1d-chart, we could forecast a Minimun Target of 55 USD already...
...but where are we on REP/AUGUR's Long-mid Timeframe?
It is always interesting to have a Long-term view in order to be consequent with your analysis... If you use Elliot-Waves Technique as I'm used to use... the order of magnitude of the cycles is very important for the Decisions Taking process...
Having said that and given all the previous indications, I would bet for the following Long-Term Cycle:
So, if I'm counting well, we have just started the III-Impulsive wave, which we can try to "decompose" in the following sub-waves (of lesser Order of Magnitude) :
...Present day
If I try to "decompose" the Subwave (3) (green olive in the previous chart), I get the following:
Summary
- Indicators/Patterns and market status show a Very Bullish trend for AUGUR/REP
- Mid-Long Term Target could perfectly be 120 USD as a minimum, (350% more from current prices)
- Short-Term target, first 56 USD, immediately after 90 USD
Enjoy Cryptoland!!!
*This is just my personal point of view, please, do your own assessment and act consequently.