#REN/USDT #Renusdt #Ren #Write2Earn! #BinanceSquareFamily

Introduction

Welcome to today’s analysis of **REN**! We will explore crucial futures trading triggers for this coin, starting with the **daily timeframe** and then moving to the **4-hour timeframe** for deeper insights

Daily Timeframe Analysis

- Current Trend : REN has been in a **prolonged downtrend** since hitting resistance at **$0.11457**, continuing for nearly **200 days**.
- Support Level : The price is currently at **$0.03268**, which is a critical support level. However, this support has been tested **four times**, weakening its strength.

Potential Breakout :

- If the support fails, the next major support is at **$0.02839**, with a potential for sharp declines if this level is lost.
- A rebound from support could trigger a long position if the price breaks above the trendline and **$0.03924**, with a second trigger at **$0.04436**. Confirmation via volume and RSI is essential due to the associated risks.

4-Hour Timeframe Analysis

- Refined Support : The **$0.03268** support can be fine-tuned to **$0.03385**. A breakdown here could lead to a pullback and a potential lower high confirmation.

- Volume Trends : Volume is currently stagnating, which is typical for Saturdays and may not indicate weakness. However, a decline in RSI below **30** could introduce bearish momentum.

- Bullish Scenario : If the price reenters the **$0.03385 to $0.03963** range, it suggests buyer interest, with a breakout above **$0.03963** acting as a long trigger.

Conclusion :

The analysis highlights critical levels for **REN** in both timeframes, emphasizing the importance of support and resistance as traders navigate potential trades.

Advice :

-Monitor Key Levels : Pay close attention to the support at **$0.03268** and the resistance at **$0.03963** for potential trading signals.

- Volume and RSI Confirmation : Always confirm trades with volume and RSI to mitigate risks associated with false breakouts.

- Prepare for Volatility : Be ready to adjust your trading strategy based on market movements, especially around key support levels.

Stay vigilant and informed to make the most of your trading opportunities with **REN** futures!

I brought a very important update about REN. What will happen to REN next month? Is it Pump or Dump? Here are all the updates
🔸Ok, if we look at the 1-hour chart first, there is a consolidation area formed after three bearish candles at the price of $0.03791. So, after a consolidation, the relevant currency should show a big move. So, if we look at this chart, we can see that REN has touched the blue zone and is pumping again. So, those of you who are worried about futures trading should not go long on REN now. If you go long on the 1-hour chart, your stop loss will be a little higher. You can take a short scalp entry on REN on the morning OB low. The price is $0.04802. There is no risk if you take the short entry from there. Because your SL will be around 15 pips.