Augur Price Targets the $15 As Investors Expect More Gains

After some positive gains last week, the cryptocurrency market succumbed to bear forces over the weekend.

While most of the top 100 coins are struggling to bounce back, Augur is already on track heading towards the $15 mark. REP is ranked at number 49 on coinmarketcap.com with a market capitalization of $155.81 million and a 24-hour trading volume of 2.75 million US dollar.

Detaching From Bitcoin

In the crypto world Bitcoin is usually the determinant of price appreciation or depreciation. For example, once the price of bitcoin appreciates, the prices of other altcoins also record positive gains and vice versa.

But Augur can be viewed as detaching from this trend although its trading volume does not live to this new development.

Gordon Gekko noted on his Twitter page:

“It would appear the usage of Augur continues to increase week over week.”

Victor Li also said that “the number of ethers being stacked on Augur predicts markets has surged to 8,000 in recent weeks, despite its clumsy UI. A solid use case of Ethereum network and its token. We need more Dapps like Augur.”

Decentralized Applications (Dapps) have been known not to withstand the test of time. But even with a ‘clumsy’ User Interface, REP is still keeping its relevance among investors.

Due to its impressive record this week, traders are shifting their interest to check where Augur will land next. The altcoin is firmly on track to hit $15 as of Wednesday, and both traders and speculators are keen to see if REP will touch the $18 mark in the coming days.

Twitter user fximperija notes:

“Bullish on Augur? Break of double top and EMA55 will lead to next potential resistance level around 18 [US dollars]. Some 42% rise in price.”

Based on what we have seen so far, REP will first need to cross $15 in the coming hours. Any slight gains will be taken advantage of by both traders and speculators in quick succession which may make the price of Augur entirely unsustainable. For now, though things look promising, however, the momentum can change quickly.

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.