REN Technical Analysis in a 3-Day Timeframe

3 set

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Now, let’s dive into this chart analysis:

REN is in a downtrend, and a few weeks ago, it was rejected at the 35 EMA resistance. If the bearish move continues, REN is likely to test the descending support trendline at around $0.0277.

The RSI is forming a hidden bearish divergence, indicating a potential bearish impact on REN.

If REN holds above the support trendline, a rebound can be expected, with the price testing the $0.052 resistance.

Key levels:

- Support/Entry: $0.0277.
- Primary Resistance: $0.048-$0.052.
- Higher Resistance: $0.095.
- RSI: Hidden bearish divergence formation.

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