Ren Price Prediction: REN Attempts to Swing Above $0.05

Ren (REN) Price Prediction – November 13

In the wake of completing a downward-trending motion that prevails in the REN/USD trade operation, the crypto market attempts to swing from above $0.05. The transactions line between buyers and sellers has taken in $0.0929 and $0.0715 points at an average percentage rate of 3.68 positives.

REN/USD Market
Key Levels:

Resistance levels: $0.13, $0.15, $0.17
Support levels: $0.05, $0.03, $0.01

REN/USD – Daily Chart

The REN/USD daily chart showcases the crypto market’s attempts to swing from above the $0.05 support level after a long engagement of a downsizing cycle in the recent deals. The horizontal line has been drawn underneath the SMA trend lines to mark the lower-trading support spot. The 14-day SMA indicator is at $0.1069 point, beneath the 40.1249 value line of the 50-day SMA indicator. The Stochastic Oscillators have been in the oversold region for a while, seemingly consolidating around 14.86 and 15.96 levels to denote that upward pressure is imminent.

What should purchasers do if the REN/USD trade volume falls below $0.05?

Presently, REN/USD trade operations have dropped toward their lowest trading point in history as the crypto market operation attempts to swing from above the $0.05 support level. If a correction has to be against the current upward trend to the value line, purchasers should not panic but rather add more to their positions or leave the purchasing order executed at this point to run on a reduced lot size.

On the downside of the technical analysis, sellers have to hold their positions firmer against any possible rebound, aiming to span northward beyond the $0.10 level in the subsequent volatile transactions. Because if the value line breaches fearfully to the upside, long-position placers may freely build a buying wall that may propel the situation into generating more profits afterward. Based on that mindset, bears will have to wait until another pattern arises, and the Stochastic Oscillators indicate that an overbought position has emerged before placing shorting orders.

REN/BTC Price Analysis

In comparison, REN has put up with a positive motion against the trending outlook of Bitcoin from a point over the horizontal line. The cryptocurrency pair market attempts to swing above the B0.000004 support level below the indicators. The 14-day SMA trend line is underneath the 50-day SMA trend line. The Stochastic Oscillators’ lines have become congested in the oversold region. They’re also attempting to open northbound lines at 7.78 and 11.20. That indicates the base cryptocurrency is trying to gain positions against the counter-trading cryptocurrency.

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