🔼 Is a reversal on REZ possible?
Renzo shows extremely negative dynamics after entering the market. The price of the token started to decline along with the market, as the listing got right at the moment of the start of the correction on alts.
Let's consider the technical situation on the 1-day timeframe. Here the token was moving from level to level, smoothly falling down. In August, it entered the range between the support of ~$0.038 and resistance of ~$0.054 📊
It's also hard not to notice the bullish formation globally. This is a bullish wedge pattern, the breakout of its upper boundary has already taken place. Such an event tells us about an attempt to break the downtrend.
For a full confirmation of the reversal on the price recovery, we should expect an exit beyond the resistance level of ~$0.054. In general, I expect a recovery here as well as in all other alts 📈
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