REN/USD Finally Made a Decisive Bullish Move

$0.0792 was the support price level where the aggressive bearish trend was cut short on November 9th. It was at this new support level that the Ren market leveled off in a very tight space between demand and supply levels. With opposing forces colliding, the direction of the market was unclear.

Ren Market Price Statistics:

• Current REN/USD Price: $0.0988
• REN/USD Market Cap: $$104,402,071
• REN/USD Circulating Supply: 999,037,500.36
• Total REN/USD Supply: 1,000,000,000
• REN/USD Coin Market Ranking: 172nd

key level

• Resistance: $0.1156, $0.1500, $0.1700
• Support: $0.0733, $0.0543, $0.0405

Ren Market Price Analysis: An Indicator Perspective

The strong support price level that supported the aggressive bearish move is the $0.0733 price level. Strong bearish pressure and strong support levels have kept the market sideways for several days. On Nov. 24, the bulls started gaining ground as trading volumes began to pick up. Bullish Momentum In Today’s Market As His Candle Emerges, Bollinger His Bands Shrink As The Bullish Price Breaks Above His 20-day Moving Average Meaning The Bulls Have Caught The Bears started. According to the Relative Strength Index, the bullish momentum is 56. This is in the bullish zone.

REN/USD 4-Hour Chart Outlook

From this outlook, there is already a trending market as the market is currently moving significantly upwards. However, the bull market will have to deal with resistance at the $0.10 price level. The market is currently in overbought territory according to the RSI. Some traders may want to sell their positions at this level.

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