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The Renzo price plunged 43% in the last 24 hours to trade at $0.1450 as of 04:40 p.m. EST on trading volume that soared to $399 million.
After airdropping its 103.5K users with 7% of REZ’s total supply on April 30, and listing on Binance launchpool the same day, the token experienced a typical downtrend.
Many tokens go through a price correction just after an airdrop, followed by a potential trend reversal to the upside as the price recovers.
Renzo Price To Soar Over The Falling Wedge Pattern
After its launch and airdrop, the Renzo price has been on a downtrend, with its highs and lows trading within the confines of a falling wedge pattern.
The downward trend, however, was resisted at the $.0139 level, which has allowed the bulls to stage a price trend reversal, with REZ crossing the upper boundary of the wedge.
REZ is trading below the 50-day Simple Moving Average (SMA), which shows a resistance level that the Renzo price has to overcome to push the price even higher above $0.1522.
The Relative Strength Index (RSI) is also rebounding from the 30-oversold level to 41, which shows growing pressure from the bulls. If the buying pressure is sustained, the RSI could soar to the 70-overbought region. This presents an indication of intense buying pressure and continued investor optimism.
Moreover, the Moving Average Convergence Divergence (MACD) is also bullish. The MACD line (blue) crosses above the signal line (orange), an indication of a bullish crossover. The bulls often use a bullish crossover to propel the price even higher.
Renzo Price Prediction
The Renzo price analysis indicates that REZ is currently on a trend reversal to the upside, as the bulls push the price over the falling wedge pattern, as they target $0.20.
Optimistic investors are looking to capitalize on the movements of the RSI and MACD indicators to buy more.
If bears apply more pressure, the price might retrace further, with bulls seeking support around $0.1343.
Meanwhile, investors are also buying into the new presale $5SCAPE, which has already secured over $5.7 million in funds raised.
Lock In Up To 205% In Profits By Buying 5SCAPE Now
5th Scape (5SCAPE) is an innovative project that combines VR gaming with blockchain technology. It aims to revolutionize the VR gaming experience by offering immersive games, VR hardware, and a utility token called 5SCAPE.
5thScape, the cutting-edge crypto project poised to revolutionize augmented and virtual reality, offers investors an opportunity to dive into the future of immersive gaming.
With plans for innovative VR hardware and a diverse range of games, including Cage Conquest and Epic… pic.twitter.com/FaIicOGq3w
— 5th Scape (@5th_scape) March 23, 2024
The development team’s dedication to immersive VR gaming experiences makes 5th Scape an exciting project to watch. The potential for significant returns on investment further adds to its appeal in the cryptocurrency and gaming space.
Hey #5thScape fam! 🎮 Just dropping by to share some epic news: our dedicated team has been tirelessly leveling up the thrill factor in our latest project!
🚀 Stay tuned for the most cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024
The project has garnered attention from investors and the crypto community, with a strong presence on social media and positive reviews from analysts.
Michael Wrubel, a crypto analyst with over 311K subscribers on YouTube, expresses bullish sentiments towards 5SCAPE, citing its potential for parabolic gains.
With the listing price fixed at $0.01, buying tokens now at $0.00327 per token locks in gains of 205% before launch.
If you’re interested in participating in the 5th Scape presale, you can buy 5SCAPE tokens with ETH, MATIC, USDT, or BNB on the official website. You can also buy directly with a bank card.
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