Good morning traders. leave a like or a comment if the analysis can be useful.
The recent REN rally, also driven by the listing of the crypto on coinbase, seems to have stopped at the FIB 23.6 level where investors likely took their profits.
Today's market appears to be in perfect balance as shown by the forming small body candle.
The main indicators still do not confirm any trend reversal that could proceed upwards, although a return to trendline 1 before a rebound cannot be ruled out.
Tomorrow's moves could confirm an immediate long entry strategy or a full retracement above the 0.5 FIB level before a buy entry.
The main trend remains upward.
The recent REN rally, also driven by the listing of the crypto on coinbase, seems to have stopped at the FIB 23.6 level where investors likely took their profits.
Today's market appears to be in perfect balance as shown by the forming small body candle.
The main indicators still do not confirm any trend reversal that could proceed upwards, although a return to trendline 1 before a rebound cannot be ruled out.
Tomorrow's moves could confirm an immediate long entry strategy or a full retracement above the 0.5 FIB level before a buy entry.
The main trend remains upward.