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Ren / TetherUS

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RENUSDT trade ideas

Ren protocol [REN] support & Break-out setupHi everyone, As many other altcoins REN is going through a consolidation phase where higher lows are being made. REN found a strong support with the EMA50 (Daily timeframe) and is on his way further completing the ascending triangle formation. When a strong enough bounce from support area is realized a potential bullish break-out is feasible. As always, we want to see the right volume and price action to confirm this. Strong fundamentals: > Ren getting to the Greycore > Partnership DigiByte‌ (DGB) through LinkSwap bridge > Partnership PlasmaFinance In case we fall below the lower grey trendline that acts as support, above set-up will be invald 🌜 Please like and leave a comment 🌜 This is not financial advice
by M00N_BEAMS
REN possible setupRen is setting up to be a great buy right now. There are two ways to approach this, 1. Buy it before break of trendline, you get a for a cheaper price but the risk is higher, next major support for REN is around the 0.88region chances of it dropping that low are not very high as the $1 mark also holds as a very good psychological level. 2. Buy it after clear break from the trendline (white arrow structure). if you choose to go this route, a retest of the trendline may not always happen and it can just jump past it. Enter the trade at your own risk, i am not a financial advisor.
by SilentAeris
RENUSDT Local S/R| Swing High| Price Action| Volume Evening Traders, Today’s analysis – RENUSDT – trading above a key technical location where a deviation is probable, Points to consider - Price Action Impulsive - Local S/R Support - .618 Fibonacci Resistance - Swing High Objective RENUSDT’s immediate price action is impulsive, trading above the Local S/R, confirming it as support allows for a bullish bias towards the .618 Fibonacci Resistance. The Swing High is current objective, exceeding this level will increase the probability of continuing the current trend. Current volume profile is increasing, this needs to sustain for continued momentum to the upside. Overall, in my opinion, RENUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
Long
by AzizKhanZamani
1