REN Price Forecast – Correction Ended?! Can The REN Price Establish A New All Time High Now?


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!

REN/USD Weekly  – Tradingview
REN/USD Weekly  – Tradingview

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!

 REN/USD Daily  – Tradingview
REN/USD Daily  – Tradingview

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!

  REN/USD Monthly  – Tradingview
REN/USD Monthly  – Tradingview

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!

REN/BTC Weekly  – Tradingview

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

Konstantin

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