REN: Case of Don't Chase
We noticed one of the top-performing alts of the last 24 hours was REN. RENBTC has come to a horizontal and diagonal resistance point near 675.
As is the case with all these small coins, we don't think you should FOMO into a long at resistance. That said, if REN does take out 675, the next upside target 871.
Bottom Line: If you are going to FOMO into anything, FOMO into Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). Chasing coins like REN that are up 25% doesn't seem to make much sense.
As is the case with all these small coins, we don't think you should FOMO into a long at resistance. That said, if REN does take out 675, the next upside target 871.
Bottom Line: If you are going to FOMO into anything, FOMO into Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). Chasing coins like REN that are up 25% doesn't seem to make much sense.
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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.
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.