Augur and Just price analysis indicate strength. REP/USDT prices may soar to $60, while JST/USDT may double from Apr 2021 lows, reaching $0.20.
The DeFi dApp is an Ethereum-based predictions market harnessing the power of the crowd using REP tokens.
REP is trading at $45 as of writing on May 6, adding 15 percent on the last day versus the greenback. At the same time, it is up to double-digits versus BTC and ETH.
There is interest from the broader trading community as volumes surged 74 percent to $72 million.
REP surges aren't parabolic like other DeFi tokens. Instead, the uptrend slant is gentle. REP technical analysis indicates buying pressure. However, bulls can chart to new territories in 2021 if they affirm Q1 2021 gains by closing above Apr 2021 highs.
REP/USDT already found support from around the 61.8 percent Fibonacci retracement level of the Q1 2021 trade range.
Prices are gradually inching higher, presenting an opportunity for aggressive traders. Technically, they can load the dips with first targets at Apr 2021 highs of $60.
On a more cautious approach, a close above $60 with increasing volumes may build a case for REP/USDT to reach $90—the 1.618 Fibonacci extension level of the Jan-Apr 2021 trade range.
Just is a DeFi protocol on the Tron network with a current TVL of above $8 billion. JST is its governance token.
JST prices are up eight percent on the last day, trading at $0.13 as of writing on May 6. Moreover, the path of the least resistance is northwards.
JST/USDT prices are bottoming up after racing to new 2021 highs in Apr 2021. Propelling buyers are determined participants as swelling trading volumes reveal. On the last trading day, volumes are up three percent to $356 million.
JST/USDT price analysis reveals activity following yesterday's bull bar. It marked trend continuation, especially for aggressive traders who might be loading the dips. Presently, JST prices are above the 20-day moving average.
A firm confirmation of May 5 bulls may see JST/USDT race to Apr 2021 highs.
The uptrend is clear. JST buyers are in charge. A close above the 20-day moving average and May 5 highs may open up JST prices to $0.20—the Apr 2021 highs. Accordingly, aggressive JST traders may load the dips with the first targets as aforementioned.
On the reverse side, a contraction below Apr 2021 lows at $0.10 may see bears of late Apr flow bar in a sell trend continuation.