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:
<ul>
 	<li style="font-weight: 400">The DREP prices grow by 40% overnight.</li>
 	<li style="font-weight: 400">The price action forms a morning star pattern.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of DREP is $436,888, indicating a 2.86% fall. </li>
</ul>
<h2>Past Performance of DREP</h2>
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.

<img src="https://s3.tradingview.com/snapshots/z/ZO1SUfyk.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/ZO1SUfyk/">Tradingview</a>
<h2>DREP Technical Analysis </h2>
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. However, the 14-day average line has kept the RSI under a downtrend, and the breakout will mark a bullish entry spot. Furthermore, the Stochastic RSI displays the K line crossing above the D line, reflecting a bullish crossover. 

Thus, the momentum indicators suggest an uptrend and indicate the possibility of a falling wedge breakout.

In short, the DREP technical analysis displays a high likelihood of a bearish reversal from the $0.50 mark.
<h2>Upcoming Trend</h2>
DREP prices fail to find a bullish commitment despite the bullish reversal pattern, evidenced by the weakened trading volume during the follow-through candle formation. Hence, the breakout chances of $0.50 lower and a reversal to the $0.30 seem inevitable, the fallout of which will drive market value lower to $0.20.

On the opposite end, a bullish breakout of $0.50 will invalidate the bullish thesis and drive the prices higher to $0.65.

Support Levels: $0.30 and $0.20

Resistance Levels: $0.50 and $0.65

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.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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

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