REN/USD LongREN here looks primed for a move upward
especially if some volume comes in to add
confluence
-A running flat (3 3 5) has been formed here
-The MA100 is well below the EMA30 which is
temporarily acting as support creating more
bullish confluence.
-If the gold line keeps holds as support and the
bull pennant (gray) breaks out the top diagonal
we should see a move toward $1.50 at least
Ren Protocol provides interoperability between
different blockchain platforms.
REN is fundamentally sound and is
Decentralized Finance (DeFi) so will be getting
a lot of attention this coming year and long term
will likely be a good investment as well as being a
solid short term swing.
RENUSD trade ideas
REN/USD: Tap, Tap, Tap, BreakOUT?!ALTS look blah but REN looks strong. If ALTS strengthen here, I suspect REN to be a one of the fastest horses.
Best time to buy REN is Now 0.9861 Ten X Very Possible here or even more. Bottom floor going up ten or more floors soon. Forget about bitcoin for just a second. Real gains are in the alt coins right NOW. Your in Play. Do not hesitate.
REN could RUNif REN price breaks above this current resistance, we could see it go parabolic... REN has pretty great tokenonomics with their RenVM that generates fees and adds value to a sector of the DeFi community...I will continue to monitor Ren Darknode daily/weekly/monthly fee growth as we watch the RENUSD price for a possible breakout
REN - Buy-in targets if SHORTREN has a pretty big set up of a bearish divergence as seen on the 3H chart, we are keeping watch for a pivot point, which may be indicated by the last candlestick that went to the high, and was rejected. It was a strong rejection, the wick is long.
If we do end up retracing, we can shoot for these 3 main zones.
Main lines to bounce off ofThe main lines to bounce off of are blue and the purple lines are the possible borders.
BREAK OUT CONFORMATION. MOVE SOON. BLUE SKYPurple line break. BREAK OUT CONFORMATION add till 1.10. . MOVE SOON. BLUE SKY
Ren still strongThe bears keep trying to steal it away from us but they clearly can't. Each time they get weaker. We win. You lose.
Not a professional advisor, do your own research as I am not responsible, nor is anyone else, if you lose your money on a trade. Its all in when you take profit and when you stop loss, its all psychology and patience is a virtue but so are ALERTS :)
RENUSD making new ATH. Expect Fib 1.618 level to be resistanceI would expect REN to continue its price discovery and head towards fib level 1.618 before seeing some resistance.
Cup and Handle formation TP Target 1.20 - 1.24
Little divergence has to play out on the hourly then its moon time.
Long on REN - Nice little entry pointBouncing off of support.
Targets in price projections. Top target range $1.30-$1.35 USD
