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RENUSDT trade ideas

Republic Protocol: Volume Activity Gives It Away (2,212% Or...)There are several patterns that give away the pairs that already hit bottom vs those that are still in risky waters. ➖ Those pairs that produced a small bullish wave between late 2023 and early 2024, tend to be have a stronger footing right now vs those that grew massively. ➖ Those pairs hitting new major lows followed by an increase in trading activity, look stronger for immediate bullish action vs those that are trading pretty high. Here we have Republic Protocol vs Tether (RENUSDT). The trading volume gives it away. We have a more than four years long higher low, that is, March 2020 (low) vs August 2024 (higher low). Notice the rise in volume after July 2023. And specially the volume on the 5-August weekly session; this candle produced the highest volume ever. The lowest price in four and a half years, yet the candle closed green and high activity is present recently. These signals can indicate that this pair is ready to turn. We have a long-term higher low and this pair also looks bullish on its BTC side. If any doubts remain that the bottom is in, look at the linear chart. With that said, there can be shakeouts and even a lower low wick, but this wouldn't change the potential for growth in the coming months and in 2025. We are not looking at new ATH projections and potential in this trade-idea but this is possible in 2025, because of the chart structure. We can revisit again in the future once we are closer to the next market cycle, the 2025 full-blown bull-market. Thank you for reading. Namaste.
Long
by AlanSantana
4
RENUSDT.1DThe REN/USDT technical analysis chart on TradingView illustrates the current market dynamics for Ren against the US Dollar Tether on a daily timeframe. The chart marks two resistance levels at $0.03203 (R1) and $0.05518 (R2), with a support level at $0.02303 (S1). From the chart, it appears that REN/USDT has been in a consolidation phase, trading within a descending triangle pattern, typically considered a bearish formation in technical analysis. However, the recent price action shows an attempt to break out from this pattern, heading towards resistance level R1. Technical Indicators: Stochastic RSI: Currently, the Stochastic RSI is nearing the overbought territory, suggesting that the price might soon face downward pressure if traders start taking profits. MACD: The MACD is close to crossing above the signal line, indicating a possible bullish momentum in the short term. However, the histogram remains very close to zero, suggesting that the upward momentum might not be very strong. Analysis and Trading Strategy: Given the proximity to R1 and the potential bullish crossover in MACD, there might be an opportunity for a short-term bullish trade. If REN/USDT successfully breaches R1, the next target would be R2, which would confirm a stronger bullish sentiment. Bullish Scenario: If REN/USDT breaks and holds above R1 at $0.03203, consider taking a long position with a target at R2 ($0.05518). Place a stop-loss just below R1 to protect the trade against a reversal. Bearish Reversal: Should the price fail to maintain its position above R1 or if the Stochastic RSI reverses from the overbought condition, it could indicate a pullback towards S1 at $0.02303. In this scenario, a short position could be considered, placing a stop-loss just above the recent high. Conclusion: While the short-term indicators suggest bullish potential, the overall pattern and market conditions require cautious trading. The descending triangle pattern should not be ignored as it traditionally signals bearish trends. It is essential to monitor the price action closely at R1 and adjust positions accordingly. Additionally, any external market influences or fundamental news related to Ren should be considered as they can significantly affect price movements. As always, maintaining proper risk management protocols is critical to safeguard investments from unexpected market movements.
Long
by MarsSignals
REN Technical Analysis in a 3-Day TimeframeHello everyone, I’m Cryptorphic. I’ve been sharing insightful charts and analysis for the past seven years. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: REN is in a downtrend, and a few weeks ago, it was rejected at the 35 EMA resistance. If the bearish move continues, REN is likely to test the descending support trendline at around $0.0277. The RSI is forming a hidden bearish divergence, indicating a potential bearish impact on REN. If REN holds above the support trendline, a rebound can be expected, with the price testing the $0.052 resistance. Key levels: - Support/Entry: $0.0277. - Primary Resistance: $0.048-$0.052. - Higher Resistance: $0.095. - RSI: Hidden bearish divergence formation. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
1
Is #RENUSDT About to Skyrocket or Sink? Key Levels in FocusYello, Paradisers! Are you ready for the next big move on #RENUSDT? Let's look at the latest analysis of the #REN and see what's happening: 💎We're seeing some strong potential for a bullish continuation from a critical demand zone at $0.0343. We've been closely tracking #REN, which follows a descending channel pattern and seems to be gearing up for a bullish breakout. The next key target to watch after the breakout is the internal minor resistance at $0.059. 💎If #REN holds steady at $0.0343, we could be on the brink of a significant bullish rally, much like those explosive moves we've seen before. A breakout above the crucial resistance at $0.059 could pave the way for a run toward even higher resistance zones—with potential gains ready to take us even further. 💎But caution, Paradisers! If momentum weakens at this critical demand zone, we might see a pullback to the lower support area around $0.0276. 💎Keep your eyes on #REN price action. A daily close below this support could invalidate the bullish scenario and open the door to further declines. Stay focused, patient, and disciplined Paradisers. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
2
REN : Time For The Price To RecoverREN : Time For The Price To Recover REN was moving in a downtrend for a long time. Finally, we can see a strong bullish wave and the formation of a bullish continuation pattern. We can see the price correct more, but as long as it stays above the red zone, we can see the REN rise again as shown on the chart. Conservative targets 0.041 and 0.044 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
1
REN/USDT Analysis – August 8, 20241. Introduction of the Analysis: BYBIT:RENUSDT.P This analysis delves into the REN/USDT pair on the 4-hour timeframe, using technical indicators to project potential market movements and identify strategic trading opportunities. 2. Indicators Used: - Quarterly Fibonacci Pivot Point Levels: These levels are used to highlight crucial support and resistance zones that could guide price action. - Main Pivot Point (Yellow Resistance): The yellow line represents the main pivot point, a significant level where price reactions are anticipated. - Support and Resistance of Pivot Points: The grey areas on the chart provide additional support and resistance levels derived from pivot points, offering further insights for potential price targets. - Weekly Candle Display: This feature allows for alignment with broader market trends by showing weekly price movements. - Monthly Fibonacci Pivot Point Levels: These levels provide higher timeframe confluence, reinforcing the importance of the identified support and resistance areas. - Yellow Candle (High Volume): The yellow candle indicates a significant volume spike (over 200), signaling strong market activity at that level. 3. Overview: - Support Zone: - A key support area is identified near the 0.0306 level, which corresponds with a quarterly Fibonacci pivot point. This zone could serve as a potential rebound area for price. - Resistance Zone: - The primary resistance level is marked by the yellow line at 0.04318, aligning with the main pivot point. Additional resistance is found around 0.05277, which could act as a target for price movements. - Trade Setup: - Long Position: - Entry: Around 0.03976, where price is testing a grey support zone. - Targets: - First target at 0.04318. - Second target at 0.05277, correlating with the upper resistance level. - Stop Loss: Below the recent low at 0.0306. 4. Conclusion: REN/USDT is currently positioned at a key support level of 0.03976, with potential for an upward move towards 0.04318 and 0.05277 resistance zones. Traders might consider entering long positions at these levels, with proper risk management by setting a stop loss below the 0.0306 support level. 5. Disclaimer: This analysis is provided for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult a financial advisor before making trading decisions. Past performance is not indicative of future results. This content adheres to TradingView’s guidelines and avoids any promotional or external community links.
Long
by LYONIUM
REN Long 📩 Pair: RENUSDT 📈 Direction: Long 💯 Leverage: Cross 5X - 10X - 20X 📊 Entry 1: 0.0470 📊 Entry 2 (DCA): 0.0400 ✅ Target 1: 0.0600 ✅ Target 2: 0.0750 ✅ Target 3: 0.0900 ⛔️ Stop Loss: 0.0350 #REN is currently compressed between the trend lines of a descending wedge, and we expect a bullish breakout soon. If #RENUSDT faces resistance at the upper trend line of the wedge, we might see a retest of the bullish zone around $0.0400, which is a strong support level, rich in liquidity and a key area for potential buy orders. Entry Strategy: First entry at $0.0470 If the price drops, we will make an additional entry (DCA) at $0.0400 to lower the average cost of the investment. However, if REN does not recover from $0.0400, the focus will shift to the next crucial support in the lower demand zone at $0.0350. The probability of a strong rebound here is quite high, making this level critical to watch. On the other hand, if REN continues to decline, the bears might take control, leading to a bearish continuation and marking a significant shift in market sentiment. "Manage your risk – never trade with more than 1% of your capital on a single transaction."
Long
by clasaicrypto
1
REN: Exploring Trends and Key Levels in the Crypto Market✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the REN coin in the crypto market. 🗂 About the Project: REN is a protocol that enables the transfer of cryptocurrencies between different blockchains in a decentralized manner. It aims to bring interoperability to DeFi by providing access to liquidity from various blockchains for DeFi applications. ⌛️ Daily Timeframe 🔍In this timeframe, the price has been ranging for a long period around the $0.04996 support. 📊Support and Resistance Levels: Resistance: $0.05060, $0.05696 Support: $0.04442, $0.03936 💥The RSI is around 54.25, indicating neither overbought nor oversold conditions. 🧩Currently, there is significant bearish momentum in this timeframe, and the volume aligns perfectly with the downward trend. Recommendation: Given the strong support at $0.04442, we can expect another bearish wave if candles stabilize below this area. ⌛️ 4-Hour Timeframe 📈In this timeframe, the price has pulled back to the SMA99 and simultaneously reached the critical $0.04960 resistance, which was the main market low in the previous cycle. The volume is gradually decreasing, indicating that the long-term downward trend impacts the 4-hour timeframe. 🔑Key Levels: For a long position, the key levels are $0.04960, $0.05060, and $0.05696. For a short position, $0.04442 and $0.04500 are critical areas where the price may react in the future. 🎲RSI Oscillator: The RSI is ranging between 39.81 and 54.34, and breaking either of these levels can provide confirmation for opening positions. However, be sure to use these levels only for confirmation and rely on candles to find the trigger. ♟Recommendation: This upward movement offers a better entry point for a short position. Given the bearish market in the 4-hour and daily timeframes and the potential trend change in the weekly timeframe, consider opening a short position as the trend aligns with the momentum. ⚠️Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
RENusdt risk and rewardsthis is risky token low money set on this. but for spot is good and you can take great profit you can see break bearish trend line and now rdy for pump only need market and BTC save position market big correction all dump. you can see big move soon. GL EntryPoint: 0.096577 0.092600 0.086700 Supports: 0.080647 0.073259 0.066598 Resistances: 0.106870 0.110198 0.117165 Targets: 0.137592 0.154638 0.182223 0.249332 0.311640 0.412726 MidTime: 0.563537 0.704366 0.933116 HODL: 1.274176 1.543431 this so faraway better for mid time hodl GL
by Shivaz
REN ANALYSIS (2H)REN seems to be forming a diametric on small time frames. It is now in the middle of the bullish wave E of this diametric. By maintaining the specified demand, it can move towards the target. The first target is the red box. Closing a 4-hour candle below the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
REN - falling wedgeOn the above 6-day chart price action has corrected 96% since October 2021. A number of reasons now exist to be bullish, including: 1) Price action and RSI resistance breakouts. 2) Trend reversal. 3) The trend reversal prints on legacy support and resistance. Support is confirmed. 4) The falling wedge breakout forecasts a 1800% move to $1. Is it possible price action corrects further? Sure. It is probable? No. Ww Type: Trade Risk: <=6% Timeframe for long: This month Return: 1800%
Long
by without_worries
5