RENUSDT.P trade ideas
REN- Looking good / Interoperability will be keyIntroducing RenVM, an open protocol providing access to inter-blockchain liquidity for all decentralized applications. 'Bring BTC, BCH, ZEC and more to your Ethereum app' as they state.
Interoperability, in a growing blockchain landscape might end up being the key.
I see value in the project and technically I am good to buy in it now.
ref:
renproject.io
RENUSDT Local S/R| Swing High| Price Action| Volume Evening Traders,
Today’s analysis – RENUSDT – trading above a key technical location where a deviation is probable,
Points to consider
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Resistance
- Swing High Objective
RENUSDT’s immediate price action is impulsive, trading above the Local S/R, confirming it as support allows for a bullish bias towards the .618 Fibonacci Resistance.
The Swing High is current objective, exceeding this level will increase the probability of continuing the current trend.
Current volume profile is increasing, this needs to sustain for continued momentum to the upside.
Overall, in my opinion, RENUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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And remember,
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
Shorting REN for a 30% dropI am convinced to short RENUSDT here for a 30% drop for the C wave down, and then I expect a rally for a larger degree wave 3.
$REN - Swing trade set upSymmetrical triangle formation accompanied by volume decreasing in a similar manner.
Breakout should follow with large volume expansion - ideally a long position should be taken at the swing high point.
Breakout from the triangle could go up or down but this protocol has excellent DeFi fundamentals, so expect up side.
dyor ;)
Ignore the breakout: BTC dump will kill REN!REN is in a great position to spike up to resistance and then fall down and probably break through support. This assumes that (5) has completed.
It is worth noting this is a pretty aggressive and risky reversal trade since there is a triangle that broke out to the upside and there may also be an inverted head and shoulders forming.
REN (Ren Protocol) - Is the correction over?REN has corrected almost 50%. This seems like an overcorrection and I believe we will see strong movements upward now to compensate.
It's recently broke above a trend line and seems to be in the process of moving upward, If the move fails we could see drops down to a higher demand zone - as low as 60 cents.
I have opened a trade on REN just as it broke out and will update as it goes along.
This is not financial advice
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REN to TEN but first....Ok look REN is the most under-valued project in crypto and that is a scientific fact. Don't argue, don't pretend otherwise, just accept it. REN is the bridge between blockchains and running darknodes is going to be like owning a crypto printer for btc and every other supported chain. You buy, you hold, you profit. Put your big-boy pants on and get yourself 100k and get that darknode running and financial freedom is right around the corner. Do it!
Can REN go parabolic?This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here personal message, i will try to answer to everybody... i can help you :) all for free, don't worry, BE HAPPY!
If u like the analysis, please feel free to ask any question about this TA or crypto or any coin and also leave a comment or like or share the idea, i really appreciate it because then my work makes sense :) thanks!
🆓Republic Protocol/USDT Analysis (2/3) #REN $RENThere is a good strong force at 0.9$ and 1$ zones so we can expect a recovery in next days. We can start accumulating REN at 2 zones above and I think it will have a big recovery wave from March 5 and targets should be 1.4$ and 1.6$. If it can conquer 1.6$ zone, it will pump very strongly and 3$ will be reached soon!
📈BUY
-Buy: 1.00-1.05$. SL if B
-Buy: 0.88-0.92$. SL if B
-Buy: 1.55-1.60$ if A. SL if B
📉SELL
-Sell: 1.35-1.40$. SL if A
-Sell: 1.55-1.60$. SL if A
-Sell: 2.95-3.05$. SL if A
♻️BACK-UP
-Sell: 0.88-0.92$ if B. SL if A
-Buy: 0.50-0.53$. SL if B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
RENUSDT Bullish flag- Long opportunityBased on bullish flag pattern long on this cryptocurrency, s/l below lowest price within the flag formation
RENUSDT long positionI think that price correction to the upper limit of the ascending channel can pump the price to the defined targets
