A broadening wedge structure has formed on the Ren chart.
The price is now in consolidation in the middle of this wedge.
The best buying opportunity will be after a false break or a test of the lower boundary of this wedge as support.
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So we can see Ren is having large upwards trajectory, with a inverse head and shoulders on the daily, I expect it to bounce off the ascending support line (between the .768 and .618) and head to the 1.618 fib extension.
With Ren’s Arbitrum bridge, value locked and volume all at all time highs, and progress on decentralizing the platform, Ren is primed for...
REN is a very good coin which can make a good profit, but new he need to corection. here is a corection 3 level where REN have possibilite to start grow up, in my opinion we will see 1.06 and 1.00 for a buy.
This is not financial advice !!!
This is Just Chart analysis !!!
RENUSD is showing negative MACD histogram on the 30 minute chart, as well as an OBV high for the month, indicating an undersold asset ready for positive price movement. RSI also indicates that it is undersold. A good time to buy!
The price is currently testing the previous highs from June 2021. If bulls manage to defend this level, this could be a good buying opportunity.
Stupid and greedy - after 0.71 is reclaimed
Safe- after upper trendline of the triangle or 0.86(TP1) is reclaimed
Long term targets only:
Massive dip today, probably well orchestrated too with billions of dollars lost in liquidations.
Let's take a step back and see how our levels works.
Look at our previous ideas below for comparison.
No love today,
Interesting chart setup here. Bounce from the long term support, Breakout of the downtrend resistance and right at 0.23 fibonacci resistance!! a break of the resistance and test of 0.5 fib resistance is on the cards. the next steps will be determined based test of 0.5 fib resistance. a breakout with good volume will set it up for a run higher.
Entry - 21000 ren...
Renusd is in the correction form and it is now ready to break it downside.
Stoploss is -4% of the investment and the target is 12% of the investment.
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