๐ REQ (Request Network) Daily Chart Analysis โ Momentum Builds Toward Breakout
Current Price: $0.1579 (+~1.6%)
๐ฐ๏ธ Daily Range: Low: $0.1537 โ High: $0.1594
๐ Key Technical Insights:
๐น Trend & Price Action:
REQ has rallied significantly, pushing through prior resistance around $0.13โ$0.14.
The strong bullish candle and expanding Bollinger Bands indicate rising volatility and bullish momentum.
Price is trading well above the 50-day SMA and VWAP, suggesting a confirmed uptrend.
๐น Moving Averages:
โ Bullish โ All major SMAs (5, 10, 20, 50) are trending upward.
๐น Momentum Indicators:
RSI (Daily): 80.6 โ Overbought, but momentum remains strong.
MACD: Bullish crossover confirms the uptrend continuation.
ADX: Bullish crossover โ confirms trend strength.
MFI: Overbought โ some short-term profit-taking is possible.
VWAP: Price remains above โ institutional support.
๐ Key Levels:
Resistance: $0.16 (immediate), $0.175, $0.20
Support: $0.145, $0.135, $0.120
โ ๏ธ Outlook & Strategy:
Bullish Scenario: Sustained close above $0.16 may trigger another leg up to $0.175 and $0.20.
Bearish Risk: If bulls fail to hold $0.145โ$0.135, a retest of $0.120 support is possible.
๐ Final Thoughts:
REQ is gaining strong momentum with increasing volume and bullish indicators aligning. However, with RSI and MFI both in overbought territory, short-term pullbacks are healthy. Watch the $0.16 level closely for a decisive breakout.
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