Daily Bitcoin Updates
letstalkbitcoin.com

REN Price Forecast – Correction Targets Reached, Over 60% Profit!

The REN price reached our correction target at the golden ratio, and was able to have a strong bounce upward. Will the REN price have a massive rally again?

Ren Price Forecast – 0.382 Fib level successfully held as support!

REN/USD Weekly price chart

REN/USD 1W  – Tradingview

The REN price perfectly corrected to the golden ratio support at ±$0.24, only to rise by 63%. Afterwards, the REN price was rejected at the 0.382 Fib resistance at ±$0.37, leaving it unclear whether REN will try to break this resistance once more this week, or whether it will move down again to the golden ratio support.

The MACD at least is signaling a continuation of the correction. What happens next depends first and foremost on Bitcoin’s price action. If Bitcoin has a bullish development, the golden ratio price level of $0.24 would’ve been a great entry point for REN bulls. f Bitcoin sees a bearish development, then we should soon fall to this level once more.

Ren Price Forecast – 50-Daily-EMA serves as resistance!

REN/USD daily price chart

REN/USD 1D – Tradingview

For REN to overcome the 0.382 Fib level at $0.38, it would first have to break the 50-Daily-EMA resistance. The MACD histogram is having a bullish development in the daily charts, and the MACD lines could soon have a bullish crossover.

Should the REN price close over the 0.382 Fib level at $0.38, it could soon target the all time high level of $0.60 again.

Ren Kurs Prognose – September als Korrekturmonat!

REN/USD monthly price chart

REN/USD 1M  – Tradingview

So far, September has been going perfectly according to plan, with the REN price perfectly bouncing off the golden ratio at $0.24. Should REN close above the 0.382 Fib level at $0.38, things would be looking good!

Ren Price Forecast – Golden ratio reached against BTC as well!

REN/BTC weekly price chart

REN/BTC 1W – Tradingview

REN reached our golden ratio correction target against BTC as well! The REN price reached ±0.00002252 BTC then rose up to the 0.382 Fib level at 0.00003291 BTC.

The weekly MACD still signals a continuation of the correction. It remains to be seen if the REN price can close over the 0.382 Fib level at 0.00003291 BTC. If it does, the next price target would be 0.0000394 BTC!

Follow us on Twitter and join our Telegram channel to keep up with the latest news and price analyses

Best Regards and successful trades

Konstantin

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you

Nexo – Your Crypto Banking Account

Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.

Ad

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 Altcoin

This article was originally published on CryptoTicker.io

Related posts

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More