DREP Technical Analysis: Lack Of Bullish Faith Delays $0.50 Breakout

DREP prices break under the crucial support level of $0.50 and retest it with a morning star pattern reflecting the chances of a prolonged uptrend. Key technical points: The DREP prices grow by 40% overnight. The price action forms a morning star pattern. The 24-hour trading volume of DREP is $436,888, indicating a 2.86% fall. Past Performance of DREP DREP prices experience a surcharge in the underlying bullishness near the $0.30 mark after the breakout of the $0.50 mark. The recharged bullishness has led to an upward trend reversal with a morning star pattern and significantly lower price rejection. However, the uptrend struggles to surpass the $0.50 mark and reflects a higher possibility of a retest with the motive of bearish reversal under $0.30. Source-Tradingview DREP Technical Analysis DREP price action indicates a weakness in today’s trading volume compared to yesterday’s Doji formation, which supported the long-tail construction. Therefore, bullish-aligned traders must wait for the price action confirmation to avoid a bull trap. The crucial daily EMAs struggle to sustain a bullish alignment, and the recent merger reflects a grand bearish crossover to regain the bearish alignment in a single attempt. Hence, the bullish reversal will face formidable selling pressure near the EMAs. The RSI slope approaches the bearish influence of the 14-day SMA as it spikes above the oversold zone displaying growth in bullish momentum. H...