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What’s the bull case for Question Community’s REQ as price pumps 58% in 24 hours?

What’s the bull case for Question Community’s REQ as price pumps 58% in 24 hours?
  • Question Community powers payments by the blockchain

  • Question Community token obtained 58% in a single day 

  • REQ might perchance smash as bearish indicators emerge at resistance

Question Community’s token REQ/USD used to be the debate of merchants on Thursday. The crypto-token posted impressive features of 58.21% in 24 hours, primarily based totally on Coinmarketcap. The total trading volume rose by 2,654% in the identical interval. The features happen amid escalating crypto weakness, with Bitcoin sliding below $19,000. The total features in the final 7 days were 64.25%. There used to be no prompt living off for the mighty features. However, recently’s features receive it price exploring more about the protocol.

Question Community is a price protocol for price requests. It’s constructed on the Ethereum blockchain and permits participants to search data from payments. It’s concept of as a bridge between the digital and physical world of payments. REQ is the native token that powers the network.

Because the decentralization of finance continues to develop, the Question Community will develop. Since its delivery in January 2021, the network has processed more than $203 million in crypto invoices. Metaverse enormous, The Sandbox is among the excessive-profile purchasers of Question Community. Varied crypto projects equivalent to MakerDAO, AAVE, and Chainstack also exercise the protocol.

REQ technical evaluation

Source – TradingView

Technically, the REQ price suggests a parabolic transfer since June 29. The established resistance is at $0.128. Despite the indisputable fact that the price broke previous the resistance, it’s crossing below it. Right here is the most main signal that the price transfer would be unsustainable. The RSI also reveals the price is taking flight from an overbought stage. The MACD line would be above the intelligent average to counsel a bullish momentum. However, overbought instances and bearish pin bars at the resistance counsel downsides. Investors will enjoy to gathered glimpse to end positions and book earnings now.

Summary

We recommend a sell of REQ as bearish indicators emerge at key resistance. The inability of sure fundamentals driving the surge is also a red flag. Sell now to protect some distance from a bull entice.

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