Last week, REN / BTC hit a rough patch after a strong start to the year. REN is used for ‘wrapping’ assets on Ethereum and is pretty popular.
REN is needed to create a ‘darknode’, which wraps BTC, BCH, and ZEC, bringing them to the Ethereum network. Darknodes earn fees and with the wrapped BTC (or other asset) holders have it both ways: they keep their Bitcoins...
Technical analysis regarding the price of REN in relation of dollar attached to Tether for the next scenarios, based on 4h movement.
The price is moving in a strong upward trend and, moving away from the Moving Averages of 34 and 89 periods, following the upward trend line.
In my view, it formed a symmetrical triangle pattern (ascending?), To which it was broken...
DISCLAIMER: The following is not financial advice. Invest at your own risk.
This is part 8 of the 10 part series of 10 Cryptocurrencies you should invest in 2021 to have exponential returns in the future.
The investment strategy centers on fundamentals and predictive models. It assumes all exponential assets obey the following:
Volume and Price action is...
Ren Protocol (RENBTC) peaked in late August 2020 after a massive bull run.
This bullish run printed a total of 1510% in profits.
Now, a strong correction took place for 3.5 months and is likely coming to an end.
We can see that RENBTC went below the 0.786 Fib. retracement level of this last bullish run.
Support was found at EMA100, blue line, where we can see...
The weekly candle here broke the all time high, so I decided to go long on this breakout. The price has probably broken a well-defined range, so a purely continuation pattern such as a rectangle could be used for a trade with a Risk / Reward greater than or equal to 1/3. Within long with stop at -30% and time target instead of price, I say within 2 months from...
REN is now a buy, and I have sold my BTC to pick some up.
This zone is marked by the 2 red lines, and if it drops below which it may: Pick up more.
Ren should have an Excellent Alt Season Pump, and I think we can see anywhere from 500% - 1200% gains.
RENBTC can easily go for a higher high now that prices bounced off the MA200.
Currently, we can see RENBTC safely moving above EMA50, while gaining in bullish momentum.
The MACD is now above zero and ready to boom:
There is also a hidden bullish divergence...
While the RSI is also very strong:...
#RENUSDT(Day chart) Technical Analysis Update
Waiting for the resistance zone breakout
REN/USDT currently trading at $0.385
Long Entry-level: Above 0.440 (only enter long after resistance zone breakout)
STOP LOSS: I will update once I see the breakout
Target 2: $0.700
Max leverage: 2X
ALWAYS KEEP STOP LOSS...
Follow our Tradingview Account...
REN is looking promising past days. The patern is above the EMA10 what shows that the bulls are in control.
We expect a break-out above 0.37$ trend line.
After confirmation of a clear break-out (retest trendline as support) the ATH will be tested.
This is not financial advice