The REN price underwent a correction like we forecasted in our last article, and could now be in a hurry on its way up!
Ren Price Forecast – 0.382 Fib level successfully held as support!
The weekly candle was able to close in the green last night, and with it the 0.382 Fib support level at ±$0.42 was able to hold. As of now, the REN price was able to catapult itself up by 51%. Although the RSI in overbought regions, the MACD is still developing in bullish manner.
Ren Price Forecast – not too far from the all time high!
The REN price is no longer far from its all time high, because at $0.5 it’s barely 18% below the all time high of $0.59. This all time high now acts as the last significant resistance for the REN price, before REN can establish new all time highs.
In the daily chart the RSI is reaching overbought regions again, and the histogram has started bullishly ticking higher for the first time again today, which could still change during the course of the day. Should the MACD lines cross bullishly, things would be looking good. Otherwise, REN could find support at the 0.382 Fib level at ±$0,42.
Ren Price Forecast – months long upward trend!
The monthly chart makes the bullish trend of REN apparent, as REN was able to shoot up by over 2254% in half a year!
Ren Kurs Prognose – auch gegen BTC konnte das 0,382 Fib Niveau halten!
The REN price is in an almost identical situation against Bitcoin. Even here, the support at the 0.382 Fib level at ±0.00003440 BTC was able to hold. Currently the REN price is at 0.00004275 BTC only slightly below the all time high at 0.00004772 BTC.
Should the all time high be broken, there wouldn’t be any further resistances for REN.
The MACD histogram is also ticking higher today for the REN/BTC pair, and the MACD lines are shortly before crossing over bullishly.
Should the resistance at 0.00004772 BTC be broken, things would look good for the REN price.Otherwise the REN price could return to the 0.382 Fib support at ±0.00003440 BTC, or even to the golden ratio at ±0.000026 BTC.
Best Regards and successful trades
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from TradingView
The most recent cryptocurrency market sell-off wasn't as bad as most enthusiasts thought and has already recovered more than $100 …
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC bulls buy the dip pushing it back above $32,000
In the past 48 hours, the entire cryptocurrency market lost close to $200 billion in market capitalization as Bitcoin price …