Price Analysis

Ren (REN) Reflects Impressive Gain Overnight

2020 started with huge anticipation and hopes. The sudden aggravation of the pandemic proved to be a setback. However, cryptocurrencies are spotted improving from the last couple of weeks. If we compare from the previous six months, then the improvement in July would be marked as most. The anticipation of improvement is still ripe. The indicators are pointing towards better days, and we are positive that it might happen soon.

REN Price Analysis

The week-long price movement of REN is reflecting hefty volatility. The currency was trading at 0.00001753 BTC on July 22. And on the same day, the coin touched a week’s highest price at 0.00001853 BTC. Thereafter, the movement in the REN price was stagnant yet felt a minor pressure. Later, the currency marked a heavy decline and fell below 0.000013 BTC.

However, after trading below 0.000013, REN regained momentum and registered a significant hike over the last 24 hours. The currency regained its price level above 0.000015.

The 20-day MA and 50-day MA are at 0.00001455 BTC and 0.00001438, respectively. The daily MA50 is below MA20 forming a bullish crossover. As per the MACD chart, the MACD has crossed over the Signal line. The indicator is pointing towards positive momentum.

The technical counters are currently reflecting a significant strength. The possibility of shifting towards the immediate resistance for REN is relatively higher than slipping to the immediate support level.

Edward Scates

Edward Scates is an intern at CryptoMoonPress team. He has completed his bachelor's in finance. Writing and analyzing trends of crypto markets are his passion. Before joining our team, he was working as a freelance writer for some of the foremost publications. In additon to writing, he is disciplined trader of forex and crypto market.

Recent Posts

BlackCard and BeCoin experience remarkable 4000% value surge within 30 days

The relentless hard work has finally paid off, leading to a highly successful debut in…

6 days ago

How cryptocurrency is monetizing the virtual gaming worlds?

Digital money is called cryptocurrency and can be used to make purchases online. In addition,…

6 days ago

How is crypto gaming shaping the future of live entertainment?

Gaming is an entertainment giant that now rivals traditional media like cinema and TV shows.…

1 week ago

How Bitcoin is bridging the gap between virtual and real-world Number games?

Bitcoin, the first cryptocurrency in the world, has revolutionized finance and redefined gaming. The digital…

2 weeks ago

How Tether streamlines international gaming transactions

There has been a huge growth in the online gaming industry lately, with different people…

3 weeks ago

What makes Bitcoin so unique as a cryptocurrency?

Cryptocurrency has a special significance for individuals due to its invention in 2009 by an…

4 weeks ago