FxWirePro: Augur (REP) predictive market mainnet officially live, buy on dips for jump till $40.

Augur is an open source, decentralized, peer to peer oracle and prediction market built on Ethereum block chain. It is highly focused on predictions market. Prediction markets also known as predictive markets re exchange-traded markets created for the purpose of trading the outcome of events. There are wide range of industries that prediction technologies can applied. It is mostly used in financial markets to try and determine the trend of market based on events.
 

How Augur works 

Augur markets follow 4 stage progression

1. Creation- Anyone can create a market based on event such as sporting events,election results etc.
    
2. Trading- Once Market is open thousands of people can purchase shares in outcomes of events.
     
3. Reporting
    
4. Settlement

Augur uses three cryptographic coins such as ether, bitcoin, and Augur’s own ERC20 token known as REP.

News Update :

Augur launches mainnet officially on Jul 9th at 11:15 (UTC+1) as announced by a tweet from Augur’s official twitter account.

A bug bounty was launched on Apr 4th offering rewards up to $200 thousand dollars to a person who finds critical bugs in the code. A high security bug was found by @edmundedgar and it has been fixed as per his suggestion.

Technical

Technically, the pair has been showing a continuous decline after hitting a high of $84.The pair hits low of $27.74 and is currently trading around $33.15. It is facing major support at $22 and any break below will drag the pair down till $15/$10.
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On the higher side, major resistance is around $37 (55- day EMA) and any break above will take the pair to next level till $40/$47.75 (200- day MA).

It is good to buy on dips around $28-30with SL around $22 for the TP of $40/$47.75.