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RENUSDT trade ideas

RENUSDT ⚠️ How Low Can Ren Go In This Current Uptrend?Introduction: 💬Ren (RENUSDT) is looking good overall with its current overall uptrend, now the question remains of if this can hold going forward or if this current market structure is producing a top formation? Only Time will tell but we can surely plan accordingly for both the nest case situation of continuation and worst, being a rollover and breakdown of this current uptrend. Hit that 👍 button to show support for the content! Help the community grow by giving us a follow 🐣 Support: S1: This Bullish Orderblock is being tested ATM and we are hoping to see this be the "best case" scenario for a bottom being found. If that is not the case then we are looking at one level lower to keep us bullish. S2: We have a Bullish Orderblock and S/R flip contained within this range as shown on the chart. This range is seen as the true bull's last hope going forward, sure we could see that lower range retested but a retest of that would surely break the current uptrend structure and bring a fair amount of fear into the market. Resistance: R1: Considering that REN is in price discovery mode we are not looking at any major levels above other than the current range swing high where a Bearish Orderblock has been identified. If we get a break above this level and go higher it is expected that a retest would be a good entry point for a c continuation play. Summary: While REN is currently uptrending, we are cautious as this most recent cyclical move shows potential weakness is REN's price structure. Bulls better be planning for the worst and hoping for the best because this could surely get pulled down by the large-caps moving in lockstep with one another if a BTC or ETH correction happens. At the same time though this uptrend would be significantly attractive to anyone looking for a speculative long and so if large-caps make a move higher this one has room to run.
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by AlphaBotSystem
7
RENUSDT Looking Like It Will Continue To Set Higher Highs... Ren is still looking bullish... If we can get a break out AND a close above the two tops we could see REN move up another 20ish percent. Ignore my long position graph i only trade FUD and FOMO... jk but i am feeling quite confident REN will continue its bull run and break out to new highs.. Based on the short term decline in price from the top, we may see a bit more of a correct within our ascending wedge before another solid breakout happens. Ascending Wedge is looking tasty and i'm going to be keeping my eye on the Volume and Momentum indictors for further reassurance. Let me know what you think. :)
RLong
by pat71ck
2
Binance Hot list coin July, 3rd 2020 : RENUSDT #4The EMA 55 in this chart pattern (yellow) is having a significant effect that drive the price as a dynamic support. In align with this moves, the price is forming a contracting triangle pattern which is now trending very close with the APEX of the triangle. At this stage, there will be a war in the order book between the bears and the bulls. But, it's worth of waiting that in case the price can breaks out to the upside, we'll see a further push toward the interim swing high region.
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by julio24albert
Ren ($RENUSD) 🟥 | Why Ren Never Works Out The Way You Plan🟨 Ren's RenVM MainNet is almost here and the bulls are still charging ahead. The upcoming technology is impressive and so is this run. Let's look at some levels to see the bull's path to glory and the bear's best chance of revenge. Support: The S1 S/R flip is the first point of support for the bulls. Finding support here preserves bullish momentum, which is exactly what the bulls want to see. If S1 can't hold, it likely marks the start of a proper corrective move. If we do get a corrective move, the S2 orderblock formed at the swing low and the S3 S/R flip at the clear price pivot point should both see reactions as illustrated on the chart. We would expect any healthy corrective move to find support on the S4 orderblock formed from the move up. If S4 can't hold, then the overall bullish price structure will be lost and REN will need to be reassessed. Resistance: The bulls don't have any real resistance to contend with given how hard REN has run. With that said, any support created now stands to work as resistance on the way back up if and when bulls falter. So that is worth keeping in mind for bears and bulls alike. Summary: REN has shown real strength, and it is never a bad idea to bet on a crypto that is showing strength. What the bulls want to do here is either keep running, with perhaps a quick touch of S1, or consolidate and then lift off again at S4 or higher. There is lots of room for bulls to keep this going into the MainNet launch, but if price structure is lost things can change quickly and much of the hard-won gains may start to be given up, so make sure to manage risk. Resources: www.prnewswire.com Hit that 👍 button to show support for the content and help us grow 🐣
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by AlphaBotSystem
1
RENUSDT longWe can see Head and shoulders pattern in downtrend. When the price breaks above the neckline of an inverse pattern it means the prior downtrend is likely over, and an uptrend is underway. It's time to buy. If the price close above 0.1 then we wait for the target #2. Signals: MACD line crossing Signal line Bulish Engulfing 16-18:00 (26.05.) Broken neckline soon Please support my work by clicking the LIKE/FOLLOW button. Always do your own analysis and trust your intuition! If someone wants advice or private analysis send a PM. I would be grateful to earn some money for you and you send me some donation for my work.
RLong
by stodor99
2