Ren protocol [REN] support & Break-out setup
Hi everyone,
As many other altcoins REN is going through a consolidation phase where higher lows are being made. REN found a strong support with the EMA50 (Daily timeframe) and is on his way further completing the ascending triangle formation.
When a strong enough bounce from support area is realized a potential bullish break-out is feasible. As always, we want to see the right volume and price action to confirm this.
Strong fundamentals:
> Ren getting to the Greycore
> Partnership DigiByte (DGB) through LinkSwap bridge
> Partnership PlasmaFinance
In case we fall below the lower grey trendline that acts as support, above set-up will be invald
🌜 Please like and leave a comment 🌜
This is not financial advice
As many other altcoins REN is going through a consolidation phase where higher lows are being made. REN found a strong support with the EMA50 (Daily timeframe) and is on his way further completing the ascending triangle formation.
When a strong enough bounce from support area is realized a potential bullish break-out is feasible. As always, we want to see the right volume and price action to confirm this.
Strong fundamentals:
> Ren getting to the Greycore
> Partnership DigiByte (DGB) through LinkSwap bridge
> Partnership PlasmaFinance
In case we fall below the lower grey trendline that acts as support, above set-up will be invald
🌜 Please like and leave a comment 🌜
This is not financial advice
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