REN Technical Analysis in a 3-Day Timeframe

3 Eyl

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

REN is in a downtrend, and a few weeks ago, it was rejected at the 35 EMA resistance. If the bearish move continues, REN is likely to test the descending support trendline at around $0.0277.

The RSI is forming a hidden bearish divergence, indicating a potential bearish impact on REN.

If REN holds above the support trendline, a rebound can be expected, with the price testing the $0.052 resistance.

Key levels:

- Support/Entry: $0.0277.
- Primary Resistance: $0.048-$0.052.
- Higher Resistance: $0.095.
- RSI: Hidden bearish divergence formation.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE