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Request Community powers funds by the blockchain
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Request Community token gained 58% in at some point
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REQ might crash as bearish alerts emerge at resistance
Request Community’s token REQ/USD was the discuss of merchants on Thursday. The crypto-token posted spectacular positive aspects of 58.21% in 24 hours, in response to Coinmarketcap. The full buying and selling quantity rose by 2,654% in the identical interval. The positive aspects occur amid escalating crypto weak point, with Bitcoin sliding beneath $19,000. The full positive aspects within the final 7 days had been 64.25%. There was no fast set off for the strong positive aspects. Nonetheless, right this moment’s positive aspects make it value exploring extra concerning the protocol.
Request Community is a fee protocol for fee requests. It’s constructed on the Ethereum blockchain and allows people to request funds. It’s thought to be a bridge between the digital and bodily world of funds. REQ is the native token that powers the community.
Because the decentralization of finance continues to develop, the Request Community will develop. Since its launch in January 2021, the community has processed greater than $203 million in crypto invoices. Metaverse big, The Sandbox is among the high-profile shoppers of Request Community. Different crypto initiatives similar to MakerDAO, AAVE, and Chainstack additionally use the protocol.
REQ technical evaluation
Supply – TradingView
Technically, the REQ value suggests a parabolic transfer since June 29. The established resistance is at $0.128. Though the value broke previous the resistance, it’s crossing beneath it. That is the primary sign that the value transfer may very well be unsustainable. The RSI additionally reveals the value is retreating from an overbought stage. The MACD line could also be above the shifting common to recommend a bullish momentum. Nonetheless, overbought circumstances and bearish pin bars on the resistance recommend downsides. Traders ought to search to shut positions and guide income now.
Abstract
We suggest a promote of REQ as bearish alerts emerge at key resistance. The dearth of clear fundamentals driving the surge can be a purple flag. Promote now to keep away from a bull lure.