What is the bull case for Request Networks REQ?

• Request Network enhances payments via blockchain

• Request network tokens increased by 58% in one day

• REQ can crash when a bear signal appears in the resistance

The RequestNetwork token REQ / USD was the story of a trader on Thursday. According to Coinmarketcap, crypto tokens recorded a remarkable increase of 58.21% in 24 hours. Total trading volume increased by 2,654% over the same period. Bitcoin is below $ 19,000 and profits are generated as the weakness of cryptocurrencies escalate. Total profit for the last 7 days was 64.25%. There was no immediate trigger for solid profits. However, with today’s advances, it is worth investigating further into the protocol.

Request Network is a payment protocol for payment requests. Built on the Ethereum blockchain, it allows individuals to request payment. It is seen as a bridge between the world of digital and physical payments. REQ is a native token that powers the network.

As financial decentralization progresses, the request network will grow. Since its launch in January 2021, the network has processed over $ 203 million in crypto invoices. The Metaverse giant, The Sandbox, is one of RequestNetwork’s hottest clients. Other crypto projects such as MakerDAO, AAVE, and Chainstack also use this protocol.

REQ technical analysis

Source TradingView

Technically, the REQ price suggests a parabolic move after June 29th. The established resistance is $ 0.128. The price has exceeded resistance, but below it. This is the first signal that price fluctuations may be unsustainable. The RSI also shows that prices are retreating from overbought levels. The MACD line may be above the moving averages to suggest bullish momentum. However, the overbought condition and the bearish resistance pinbar suggest a downside. Investors should try to close their position now and make a profit.

Overview

We recommend selling the REQ as the key resistance produces a bearish signal. The lack of clear fundamentals that drive the surge is also a danger signal. Sell now to avoid bullish traps.