The Ren price prediction reveals that REN could stay above the 9-day and 21-day moving averages for it to create more additional uptrends.
Ren Prediction Statistics Data:
- Ren price now – $0.107
- Ren market cap – $108.3 million
- Ren circulating supply – 999 million
- Ren total supply – 999.9 million
- Ren Coinmarketcap ranking – #168
Resistance levels: $0.150, $0.152, $0.154
Support levels: $0.052, $0.050, $0.048
Looking at the daily chart, REN/USD crosses above the 9-day and 21-day moving averages within the channel. The cryptocurrency is now heading toward the upper boundary of the channel, and should the buyers push the coin above this barrier, it may remain at the upside.
Ren Price Prediction: REN May Create Additional Upsides
The Ren price is at the time of writing trading bullishly, if the resistance of $0.115 gives way, the bulls may cross above the upper boundary of the channel, and the coin could create additional bullish trends. According to the daily chart, the bullish scenario is stepping back into the market as buyers continue to post firm commitments into the market. However, traders could see a sharp rise in the market if the coin reaches the resistance level of $0.130; this could further strengthen the market to the resistance levels of $0.150, $0.152, and $0.154.
On the downside, a lower possible swing may likely come into the market to retest the previous support if the coin slide below the 9-day and 21-day moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.052, $0.050, and $0.048 respectively. On the other hand, the technical indicator Relative Strength Index (14) is now moving to cross above the 60-level, indicating that the market may continue with the upward movement.
Against Bitcoin, the Ren price remains above the 9-day and 21-day moving averages in other to cross above the upper boundary of the channel. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.
On the other hand, if REN/BTC trades below the moving averages, it could refresh lows and a possible bearish cross below the lower boundary of the channel could meet the major support at 350 SAT and below. However, if the coin crosses above the upper boundary of the channel, REN/BTC could hit the potential resistance at 800 SAT and above as the technical indicator Relative Strength Index (14) moves to cross into the overbought region.
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