REN Long
Updated
📩 Pair: RENUSDT
📈 Direction: Long
💯 Leverage: Cross 5X - 10X - 20X
📊 Entry 1: 0.0470
📊 Entry 2 (DCA): 0.0400
✅ Target 1: 0.0600
✅ Target 2: 0.0750
✅ Target 3: 0.0900
⛔️ Stop Loss: 0.0350
#REN is currently compressed between the trend lines of a descending wedge, and we expect a bullish breakout soon. If #RENUSDT faces resistance at the upper trend line of the wedge, we might see a retest of the bullish zone around $0.0400, which is a strong support level, rich in liquidity and a key area for potential buy orders.
Entry Strategy:
First entry at $0.0470
If the price drops, we will make an additional entry (DCA) at $0.0400 to lower the average cost of the investment.
However, if REN does not recover from $0.0400, the focus will shift to the next crucial support in the lower demand zone at $0.0350. The probability of a strong rebound here is quite high, making this level critical to watch. On the other hand, if REN continues to decline, the bears might take control, leading to a bearish continuation and marking a significant shift in market sentiment.
"Manage your risk – never trade with more than 1% of your capital on a single transaction."
📈 Direction: Long
💯 Leverage: Cross 5X - 10X - 20X
📊 Entry 1: 0.0470
📊 Entry 2 (DCA): 0.0400
✅ Target 1: 0.0600
✅ Target 2: 0.0750
✅ Target 3: 0.0900
⛔️ Stop Loss: 0.0350
#REN is currently compressed between the trend lines of a descending wedge, and we expect a bullish breakout soon. If #RENUSDT faces resistance at the upper trend line of the wedge, we might see a retest of the bullish zone around $0.0400, which is a strong support level, rich in liquidity and a key area for potential buy orders.
Entry Strategy:
First entry at $0.0470
If the price drops, we will make an additional entry (DCA) at $0.0400 to lower the average cost of the investment.
However, if REN does not recover from $0.0400, the focus will shift to the next crucial support in the lower demand zone at $0.0350. The probability of a strong rebound here is quite high, making this level critical to watch. On the other hand, if REN continues to decline, the bears might take control, leading to a bearish continuation and marking a significant shift in market sentiment.
"Manage your risk – never trade with more than 1% of your capital on a single transaction."
Trade active
Comment
ENTRY 2 (DCA): 0.0400
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