Reach (REACH)
1. Fundamental Analysis
1.1 Introduce
Reach is a simplified, automated, permissionless protocol for quality engagement rewarding, enabling anyone to amplify their key pieces of content/communications by leveraging the Reach audience.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | REACH | Market Cap | 0 |
| Name | Reach | White Paper | -- |
| Web Site | https://www.getreach.xyz | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://etherscan.io/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 100000000 | |
| Supply | 100000000 | Release Date | 2023-12-19 |
| Available Supply | -- |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The data presents a highly volatile period, culminating in a potential shift in trend. The most striking feature is the outlier day of December 20th, characterized by a dramatic price fluctuation and extremely high volume. This pivotal event appears to have initiated a period of significant price discovery and subsequent consolidation. We see an aggressive push upwards during this day, touching 0.022 as its high point which becomes a psychological point of significance.
Prior to this outlier day, the price had shown a hesitant upward trajectory, with inconsistent momentum and low trading volume. This suggests considerable uncertainty and lack of conviction. The price had been meandering above 0.01 with neither a clear desire to break upwards or downwards.
Following December 20th surge and retracement, we observe a period of relative stabilization at levels lower than the most recent peak. The immediately succeeding days saw high volatility, but the market was ultimately reined back to 0.01 levels. Then, the price drifts lower, finding a trough around 0.0095 with an attempt to breach that level. Volatility contracts as the price is being capped on both high and low. This period of lower price action is accompanied by reduced volume, possibly indicating market participants are waiting to see what happens next.
The price action in the days leading to the final data point appears to show a resurgence of upward momentum. The recovery is not yet conclusive, as the price is still beneath the 20th December close, yet the higher highs and higher lows along with increasing volume hint at a shift in the prevailing sentiment. The high of 0.01999 on December 30th, while not a closing point indicates a strong push and shows a clear interest in the higher levels. The subsequent closing of that day at 0.01223 followed by another upward day to close at 0.01243 further strengthens this hypothesis.
The initial low levels seem to establish a price floor from which the market is now rebounding off. The closing of 2024 indicates the price has retested old support forming an important pivot. The first day of 2025 shows a significant buying pressure which seems to be a natural continuation of the recovery. Whether this is a new trend or mean reversion is the critical question for the near future.
The recent increase in volume as price increases is a significant factor. The sustained high volume on the outlier day, and the reemergence of volume on the closing days of the year are signals of interest in the higher levels. This coupled with the most recent upward momentum presents a short term upward bias. The previous levels of 0.011 and around 0.012 seem to act as resistance and so price action should be monitored closely around these numbers.
Given the data, it would be premature to definitively say if this is the start of a new bull trend or the continuation of a volatile period. However, the recent positive close, and high turnover indicate a greater likelihood that we have found our temporary bottom and that the price will retest the high of 0.022. Further observation is needed to see if this short term trend will continue into the future. The closing price of 0.01243 however presents an optimistic view.
