Ren is a utility token that aims to incentivize a global network of users to allow anyone to transfer both new and existing assets across different blockchains. For example, with Ren, users can lock bitcoins (or other assets) in a smart contract, and in return, receive the equivalent of ether on the Ethereum blockchain. From there, Bitcoin holders could use Ren to access Ethereum’s suite of decentralized finance (DeFi) products without having to sell their bitcoins or even transferring their assets across blockchains. Using these Ethereum tokens, a user could even participate in Ethereum’s DeFi ecosystem, including on lending and borrowing platforms such as Compound or Aave. All the while, the user’s bitcoins would remain locked in Ren software. Should a user seek to unlock their funds, they would need to use the REN cryptocurrency, which is needed to pay nodes for operating and maintaining the network.
Symmetrical Charting shows potential projections The best buying opportunity is the capitulation events on this chart
Study this chart and see if you find value in this
REN is currently ranked #164 Market Cap $538,642,866
This analysis could be also invalidated if the price action breaks the yellow dotted trend line. This will form a massive H&S which could be devastating. Price is dependant on BTC movements
Bobron
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does your analysis apply to the full ren chart from coinbase
jcamilli
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Unlocking of funds does not require REN cryptocurrency. REN’s only purpose is to allow the purchase of a darknode which is used to process transactions on the ren network.
memolabed1368
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Hello, please tell me the analysis about the condition of this RENUSDT watch. Thank you