Renusd
Short term drop imminent? Lower volume. BTC is not boosting it at all. Slow bleed and low volatility. Not enough buyers.
Kinda feels like the whale has left the building and is waiting for a lower price to buy in.
Not selling off like the market - is there more upside?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing.
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Not selling off like the market - is there more upside?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing.
*Follow me for the latest cryptocurrency analyses on my watchlist
*Thank you to those who donated, I very much appreciate it.
*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
REN.USDT (Y20.P4.E1).Price Action explainedHi,
Keeping it short as I'm looking for an entry as this has shown some strength and the pullback is in progress.
I have 2 levels of interest, here and the blue one.
OBSERVATIONS:
======================================
> Bottom structure\reversal seems to be complete and is unlikely to test all the way down as per neckline, if so, too deep and hence not interested;
> On the 4 HRLY, we have confluence with the MA and fib. levels (min. requirement is 2 elements) with confluence;
> We have convergence with the MACD;
> Now we are looking for that bullish candlestick on the 4 hrly or possibly 2 hrly;
> And we have an uptrend on the smaller time frames, hence this is not something I'm saying to go Macro long; Just an potential opportunity until stopped out.
Lets see how we go on this likely opportunity;
Please give me a like or tick for this post.
Regards,
S.SAri
Closeup
Daily chart: Phoeix and Macd show upward pressure;
Price above all 4 ema's.
RENBTC - Looking for pullback to short entryRENBTC has broken down the uptrend and faced with MA resistances.
On lower frames, we can see positive divergence.. So a pullback is probably on the way.
We will looking for a good entry point for short position.
Ren Making Higher Highs. RENUSDSure does! We might see a little drawback first thought, as divergence on the RSI indicator. And there are quite a few fractals at play here. Zooming out, we can see that we have successfully completed Wave 1 and 2. All that is on the chart is some part of Wave 3. Hold on to your.. well.. hats - this one should climb quite a bit being a DEFI token. Goals are in gold, invalidation in red. NFA.
REN/BTC (Retest Key Support Area?)💎Technical Analysis Summary💎
BINANCE: RENBTC
-REN is rejected at the 100D Dynamic resistance area
-If this small rally is over, it is likely to retest key support at the 1500s sat
-From there, we will have to wait for any Bullish signs or pattern
-But my recommendation is to enter only once the trendline resistance is broken upward
-This will give us an early signal that the Bulls have entered the market again
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REN/BTC (Bearish Trendline Breakdown)BINANCE: RENBTC
-After the broken trendline of support break down
-The price fell down by -30% its value
-The next major of support is located at 2100 sat range
-This is a previous key resistance before the strong uptrend last August 10
-Let's wait if REN can hit this area of confluence and look for a buying opportunity
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REN ThoughsI see a move like this for REN. ~$2.00 for next parabolic top before next macro distribution/accumulation phase.
REN.USDT and BTC (Y20.P3.E1).Solid trend but be patientHi All,
REN is another solid performer as one just has to look at its past price action.
I am anticipating after a peak like this one, it will pull back to the 21/34 EMA and\or the top of its previous channel and continue.
I did see this with both KAVA and LINK so the likely chance REN does the same.
There isn't much words since this post is about stalking REN.
Lets see if we can get this right.
Cheers,
S.Sari
REN/USDT 2 Day chart: upward pressure on both Phoeix and MACD indicators
REN/BTC pairing chart:
REN/USD - Consolidation before move higher? If you followed us in on the original chart. Congrats!
Preferred entry was suggested at around the 0.145
We've seen some excellent returns since then at approx 250% to the good.
Keep an eye on it now as we wait for indication that we are moving higher again.
Although a move in now carries more risk there is still a lot of potential with this project.
Reasonably tight SL advised if you're late to the party and pick your entry carefully, a lot of potential downside if it falls through support levels.
As always not financial advice, just thoughts and TA.
Bingaz.
The TWD VPV Risk Range Indicator on the 1hr RENUSDTThis asset has been ranging nicely offering great long and shorts signals. I am accumulating this coin so I have been selling part of my REN position on the short signals rather than going outright short and increasing the amount of REN coins I hold by buying them back on the buy signals. I have been using the signals linked to automated bots to manage the position.
RENUSDT ⚠️ How Low Can Ren Go In This Current Uptrend?Introduction:
💬Ren (RENUSDT) is looking good overall with its current overall uptrend, now the question remains of if this can hold going forward or if this current market structure is producing a top formation?
Only Time will tell but we can surely plan accordingly for both the nest case situation of continuation and worst, being a rollover and breakdown of this current uptrend.
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Support:
S1: This Bullish Orderblock is being tested ATM and we are hoping to see this be the "best case" scenario for a bottom being found. If that is not the case then we are looking at one level lower to keep us bullish.
S2: We have a Bullish Orderblock and S/R flip contained within this range as shown on the chart. This range is seen as the true bull's last hope going forward, sure we could see that lower range retested but a retest of that would surely break the current uptrend structure and bring a fair amount of fear into the market.
Resistance:
R1: Considering that REN is in price discovery mode we are not looking at any major levels above other than the current range swing high where a Bearish Orderblock has been identified. If we get a break above this level and go higher it is expected that a retest would be a good entry point for a c continuation play.
Summary:
While REN is currently uptrending, we are cautious as this most recent cyclical move shows potential weakness is REN's price structure. Bulls better be planning for the worst and hoping for the best because this could surely get pulled down by the large-caps moving in lockstep with one another if a BTC or ETH correction happens. At the same time though this uptrend would be significantly attractive to anyone looking for a speculative long and so if large-caps make a move higher this one has room to run.
