RENUSDT trade ideas
Ren usdt UpdatesThis is my View of Red When the Correction will be on So this is my 3 entry prices Good luck all
REN USD bullish signal at 4h frame 2x on the mid of Aprilthis is my upcoming prediction for ren/usdt 2x on the mid of April, dont forget you always need to do your own research
everything you need is on the chart
REN USDT trading signal idea What's your thought?Ren/usdt draws good pattern, check breakouts and wait.
RENUSDTJust wait until the correction in line 4 is finished and it'll be ready to launch.
DYODD, not financial advice.
REN (Ren) Token Analysis 23/03/2021Fundamentals:
Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms.
Formerly known as Republic Protocol, Ren launched RenVM, its virtual machine mainnet, in May 2020, having completed a $34 million initial coin offering (ICO) in 2018.
The protocol’s native token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes.
Ren aims to expand the interoperability, and hence accessibility, of decentralized finance (DeFi) by removing hurdles involved in liquidity between blockchains.
Ren is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment for DeFi projects.
As a plug-in, it allows DeFi projects to bring foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their offerings. More broadly, users can in essence swap any token between any two blockchains without middle steps such as using so-called “wrapped” versions of tokens, for example Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).
RenVM is a network of virtual computers making up a virtual machine. The machines powering the network which makes up RenVM are called Darknodes.
Ren charges various fees for internal operations, but most do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions.
Ren was founded by Taiyang Zhang, its CEO, in 2017. Initially called Republic Protocol, Ren was first announced in January 2018, with Zhang explaining its initial use case as a “decentralized dark pool.”
Zhang himself has existing experience in the cryptocurrency space, having also co-founded crypto hedge fund Virgil Capital.
Prior to that, Zhang co-founded Neucode, a software and web development startup, in 2014. Jaz Gulati, Neucode’s other co-founder, now works as a software developer for Ren.
Technical Analysis:
As we ca see the Token is trying to break down the Support of 61.8% of Fibonacci Retracement
there are good chances that the 78% level of Fibonacci Retracement stands and and if so then the New Rally Starts.
there are total of 3 targets where as the 1 TP will be vary easy to achieve
Ren protocol [REN] support & Break-out setupHi 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
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This is not financial advice
REN Daily Breakout Setup REN Cryptocurrency token is ready to breakout here
it is breaking out on daily time frame volume on previous day also looks good ready to breakout
Start making position here with stop below support zone.
Long : 1.15 below
Stop : 0.97
Target : 1.19, 1.28 , 1.97 , 1.58 , 1.75
RENUSDTRen is looking bullish af right now. A great token to hold with spot and x2-3 your money in 1-2 months. Not financial advice but I am hodling so DYODD.
REN possible setupRen is setting up to be a great buy right now. There are two ways to approach this,
1. Buy it before break of trendline, you get a for a cheaper price but the risk is higher, next major support for REN is around the 0.88region chances of it dropping that low are not very high as the $1 mark also holds as a very good psychological level.
2. Buy it after clear break from the trendline (white arrow structure). if you choose to go this route, a retest of the trendline may not always happen and it can just jump past it.
Enter the trade at your own risk, i am not a financial advisor.
REN has been sleeping this month!Goal -> 1.40
Entry -> 1.11
Seems to be trading in a 1.40 - 1.00 range. Hoping to catch the wave up!
REN LongRED might break out of symmetrical triangle and head for FIB 2.618 as it did in previous instances.
$Ren possible W formation ?$Ren looks like having a possible double bottom W shape on daily and sitting perfectly on fibo 0.5 support. If upwards movement follows, we can see the fibo 1.0 (1.84 usd) is W formation target.
Just a thought from a student...I would like to get some feedback. My thought is backed by the upcoming events and utilization of the token. It pretty much is a middlemen to reduce Ethereum fees. Currently strong use potential and they have daily contact with their support base via twitter as well as they will launch testnet and upgrade to mainnet soon.
