$REN LONG OPPORTUNITY - MAKE THE MOST OF THIS WEEKENDS PULLBACK

7 feb 2021

REN is another DEFI coin that doesn’t have any historical price resistance as it’s so new. We had a healthy pullback this weekend, but I like how it’s held up. It dropped passed the .786 to the .618 and bounced from there. If you can see the purple lines we see declining volume on a downtrend. We can interpret this as less sellers willing to sell at a lower price. RSI is bottomed out and ready to pop up. I would enter as soon as we see it push above that white resistance line at $.77792. SL set below the .618.


Entry - $.783
SL - $.703
T1 - $.780 (R/R : 3.05 )
T2 - $1.211 (R/R : 6.03 )
T3 - $1.306 (R/R : 7.15 )