After epic fall, from 1400 sats to 400 sats, REN recovered some ground and now nearing 500 sats.
REN has done similar in the past where it wiped out all the gains but rose again to new highs.
This time situations are different, BTC is raging again and it remains to be seen how REN perform in these situation.
REN remains one of the top pic in this market.
After broke the trendline, price is approaching to 0.382 fibonacci level. If can stay above of this level i'll label it as wave 2 just before huge wave 3.
If can not stay on this level, next support can be considered as 0.236 fib level.
update on $REN,
Retesting ~1200sats support in what looks like a H&S pattern
If current level does not hodl, then we will go test of 1K sats support (matchs .5 fib level / H&S height)
Both RSI & MACD are bearish.
Sell signal on the UCTS 8H chart
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And not surprisingly, REN showing very strong bullish trend for a while now.
classic 3 white soldier pattern, followed by a day of a miniscule red candle.
25% away from its ATH and a breakout from Falling Wedge.
RENBTC is looking good but with mixed signals.
It is looking to breakout soon... Lower highs and higher lows... Volume decreasing and price volatility being reduced.
If RENBTC breaks down, you can expect to find support around the green zone. This is where support is found.
If RENBTC breaks up, resistance can be found around the red zone. That is our main...
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