Short
20% Drop Possible For REN
REN is not showing signs of strength right now as an up trend channel has been broken. On top of that, MACD looks bearish as well. I'm looking to enter around the 750 sat range. This is the .618 retrace zone on the Fib. Additionally, there is a long term support line (Thick Black Line) that starts in May that I expect the price to touch at some point.
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY.*
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY.*
Note
Trade is dead. This coin is going up. Broke back up into the uptrend channel and broke support. Enjoy the ride if you're long.This just goes to show how volatile this market can be.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.