Augur (REP) is a crypto that is focused on the predictions market. It allows anyone to create a forecasts market for any possible phenomenon that they can think about. The interesting aspect to augur is that it has a monetary incentive for anyone who gets involved in making predictions.
From a fundamentals point of view, Augur is a pretty strong coin. It has some of the lowest costs in the market. It is also designed to be trustless, because it is based on Ethereum smart contracts. This means that any prediction markets created on Augur are fully decentralized.
On the long term charts, Augur is showing signs of a possible bullish rebound. That’s after the price pushed up from lows of 0.00351141 BTC to the current price of 0.00468270 BTC.
That’s a 33% jump in price in a week. This jump is coming after 11 weeks of price declines and low volumes. If this uptrend sustains, it is likely to get some resistance at 0.00573162 BTC, on the 50 day – moving average. Already the price has hit that price and retreated, indicating that there is strong resistance at that level. If by any chance the price pushes above this price, 0.01181305 BTC will be the next resistance level on the upside.
In the short-term, Augur paints a picture of a crypto that is on the rise. It has already broken above the 200- day moving average, which is one of the strongest support and resistance level in the financial markets.
That’s an indicator that there is a strong bullish momentum. Volumes are on the rise the too, which is good confirmation that the uptrend can sustain in the short-run.
The upside momentum in this crypto can be confirmed in intra-day trading where the moving average charts show a clear diverge, indicating strong bullish momentum. The price is moving along the 21- day moving average, and forming higher lows. It is noticeable that the price is diverging away from the 50, 100 and 200-day moving averages. That’s an indicator that price is moving up faster than the historical average.
We can, therefore, deduce that Augur is on an uptrend and makes for a good buy. The risk reward ratio makes for a good entry at the current price level, considering that it the price is sitting on a long-term support level.
Besides, the crypto market is in rebound right now, which means an investment in Augur will ride that momentum. Bitcoin, which is usually a good indicator of the overall direction of crypto, is currently trading above $8200. That’s an indicator that money is flowing back into crypto. In essence, the risk level of investing in Augur is quite low, relative to the potential upside.
The best possible exit point for a short-term buy is at the 0.00563509 BTC level. This is the long-term 50-day moving average, one at which Augur has faced some resistance in the recent past.