At a $1B Market Cap, REN is setting up nice
Everything is setting up, its nice to have some of these smaller coins.
J-Powell and Janet Yellen on their last day of testimony.
-The fight about the word "transitory" push-pull drama
-The bill is "paid for"
-"stop printing money"
-more welfare in the forms of child tax credit and childcare subsidies
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Welcome to this analysis about RENUSDT, we are looking at the 1D time frame perspectives.
Support and resistance ranges are specified.
Information provided is only educational and should not be used to take action in the markets.
thank you for watching the analysis.
Short Opportunity on RENUSDT
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RSI below 25 on the daily time-frame, RSI bullsih divergence on the 4h time-frame, whilst touching the 200 EMA on the daily time frame, a pussible pullback to at least to the 0.87 range, However give that the RSI is exhausted on the daily time-frame, i woudn't be surprised if it tested the ATH. like Algo did yesterday.
Not financial advice, just sharing a possibility.
$REN broke down from lower line of rising wedge and now pullback to confirm support as resistance.
after this pullback price can drop more to support zone between 0.5 and 0.618 fib levels of last swing high.
if price break out from descending and ascending resistance this bearish scenario will be invalid.