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REN

REN REN to 10/10 Weekly Chart Weekly RSI Support Zone Resistance Zone Target Price Comments 61 Trendline support = 0.85 1.21 zone Breaking 1.21 will open 1.40 and 1.87 Please don’t get carried away by Weekly or Monthly Targets. (Bullish) Fibo based support is at 0.823 Weekly Readings: After making a high of 1.84-85 the momentum soon lost its strength as Weekly indicators become extremely overheated which called upon aggressive profit taking which dragged the price to as low as 0.80 where we once again witnessed support on Fibo levels of 0.382%. The Price Action since then is moving sideways in order to cool down the indicators. RSI has now fallen from 88 region to 61 indicating that we are not cooled off. Moreover market is not breaking EMA 10 based support on Weekly which is a positive sign but keeping that in mind volumes are also not seen which can favor bears more than bulls as on support the burden is on Bulls to produce volume to hold the supports. Good buy zones on Weekly are present at 0.81 and 0.70 region. Buy on Dip Strategy should be adopted but prefer not to buy on irregular zones. Wait for good Dip or break of Resistance. In my view this was just the first pull up from this script. I expect a lot more to come in future. Remember we are analyzing Weekly Chart here which does not mean we are likely to see good upsides in 10-15 days. Before we see a new move consolidation is likely. Breaking all time high can put target of 3.50 into action. Due to lack of data on weekly as this script I am unable to use higher EMA’s which can be treated as Strict Stop-losses. REN CoinBase (REN/USD) Monthly View Today marks the last day of March 2021 and as of currently we are having a spinning Top formation on Monthly and that spinning top is also making advanced bearish deliberation block on Monthly suggesting that price may take a fall. Not Financial Advice, do your own due diligence and Slay your trading days!!!
RLong
by btcarchangel
1
REN REN to 10/10 1H Chart1H RSI Support Zone Resistance Zone Target Price Comments 32.7 0.0970 Closing above EMA 12 = 1.048 Refer to Detailed report Indecisive action can continue. (Entering Oversold) 0.0846 1.121 1H Readings: The Price has been moving in an upward channel and has now tested the bottom of that channel with good volumes and is making Hammer on Hourly Closing. Now taking breaking EMA 12 based resistance will confirm the support and will gear bulls to test 1.12 region once more while breaking that will put the scrip into a breakout which has potential to test 1.47 region once again. Indicators are in oversold region, signaling that downside is not restricted. Not Financial Advice, do your own due diligence and Slay your trading days!!!
RLong
by btcarchangel
REN REN to 10/10 LOL Daily ChartDaily RSI Support Zone Resistance Zone Target Price Comments 48 Support 1= 0.972 Firm Bottom = 0.084 Resistance 1 = 1.122 Keep playing the range. Adopt Buy on Dip Strategy (Neutral) Support 2= 0.088 Resistance 2 = 1.47 Daily Readings: Comparatively one of the new Crypto’s. Talking structurally it has one of the good structures in long term view. After such a strong start it is now moving sideways and is under correction. As long as it holds the Trendlines there is nothing to be scared of, yes if it breaches the Trendline the downside can be opened but for that the chances for now seem very low. On the other-hand breaking the falling channel resistance will open 1.47 breaking which would put the script to straight test 1.84-1.85 region once again. It will take some effort to break that said zone, once breached new highs are likely to be seen. Price action has breached HH – HL formation which indicates the strength will take time to gain momentum. Strategy: 1- Risk can be taken at good supports as Risk Reward Ratio on those levels are good. 2- Wait for break of resistance for Fresh entries. EMA 10 rests at 1.018 EMA 25 rests at 1.043 EMA 50 is at 1.006 which can limit fall, while breaking below this level will favor price to test the lower supports at 0.0972 and 0.088 region. This is where good buying support exits. On downside if Trendline is violated then we can see retest of 0.76-0.80 range. This is where on downside future course will be decided. Not Financial Advice, do your own due diligence and Slay your trading days!!!
RLong
by btcarchangel
REN-BTC Greetings, REN coin, in the top 100 cryptocurrencies, at the time of writing the idea 86th place and $150 million daily trading volume, listing on top exchanges. The essence of the project is a tool for defining applications. On the daily chart is already a familiar picture on many altcoins, concave bottom, uptrend, local correction - a falling wedge, now a pullback after its breakdown. Important support to hold the uptrend is the horizontal support zone of 1650 and the uptrend line (green). On the weekly chart you can see that the price formed a symmetrical triangle. Aim to work on the levels shown on the chart, stop if the price gets stuck and it is not bought back below 1650. Always use stop loss, and do not use leverage greater than x3. A trader should always have tomorrow. If you found this information useful, please like it and subscribe so as not to miss anything.
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by Kirill_Gaitan
1
REN/USDT - False breakout, price return, exit from the triangle Hello everyone, analyzed the REN/USDT pair On the graph, wine is all you need to make a decision. A grid of buy orders will protect you from a big loss, if suddenly, bitcoin wants to drop lower. Trade wisely, don't overestimate the risks This is just my opinion, and you trade in accordance with your trading plan. Targets are indicated on the chart as a Fibonacci grid. Stop loss, everyone chooses for himself, observing his own trading strategy Trade with your trading system, do not overestimate the lot in the position and do not overestimate the risk management. Join our free, open community - share your thoughts, schedules, and knowledge with everyone. There are no VIP channels, no premium groups, no annoying ads. Free society and free crypto trading. LINK IN BIO
RLong
by CryptoJaegerB
2
REN fails to hold trendline in ascending channelFYI: I'm just getting started. Just want some feedback and thought of the community if possible. REN seems to have broken the lower diagonal trendline in given ascending channel. I would have assumed that while approaching the lower diagonal trendline with a decreasing volume we would have bounce back, however it didn't happen. It seems we have have a downward momentum towards the next resistance zone (0.85 - 0,88). Even though 1$ seems to be a strong (psychologic?) support, I think with correlation that BTC has one other leg down to go we are facing this last resistance zone and hopefully break the right upper diagonal line. Is it a smart idea to keep DCA until we reach this resistance zone? I started buy orders from 1.176 to 1,03$ with an average of 1,11$. Still have some liquid left to reduce my average buy. My wishful thought will be to sell 50% of my stack at the 2,61 fib level at approximately 3,20$ and let my profite ride. However I'm bit concerned with the current decentralization in the REN project, even though it's for security reasons, it's still a pitfall. What are you thoughts guys?
RLong
by andrebongima
REN (Ren) Token Analysis 23/03/2021Fundamentals: Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms. Formerly known as Republic Protocol, Ren launched RenVM, its virtual machine mainnet, in May 2020, having completed a $34 million initial coin offering (ICO) in 2018. The protocol’s native token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes. Ren aims to expand the interoperability, and hence accessibility, of decentralized finance (DeFi) by removing hurdles involved in liquidity between blockchains. Ren is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment for DeFi projects. As a plug-in, it allows DeFi projects to bring foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their offerings. More broadly, users can in essence swap any token between any two blockchains without middle steps such as using so-called “wrapped” versions of tokens, for example Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH). RenVM is a network of virtual computers making up a virtual machine. The machines powering the network which makes up RenVM are called Darknodes. Ren charges various fees for internal operations, but most do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions. Ren was founded by Taiyang Zhang, its CEO, in 2017. Initially called Republic Protocol, Ren was first announced in January 2018, with Zhang explaining its initial use case as a “decentralized dark pool.” Zhang himself has existing experience in the cryptocurrency space, having also co-founded crypto hedge fund Virgil Capital. Prior to that, Zhang co-founded Neucode, a software and web development startup, in 2014. Jaz Gulati, Neucode’s other co-founder, now works as a software developer for Ren. Technical Analysis: As we ca see the Token is trying to break down the Support of 61.8% of Fibonacci Retracement there are good chances that the 78% level of Fibonacci Retracement stands and and if so then the New Rally Starts. there are total of 3 targets where as the 1 TP will be vary easy to achieve
RLong
by BitonGroup
13