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REN/USDT (Futures) Potential Upward Movement

REN/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 0.4200, 0.4339, 0.4400.

Key Support Levels: 0.4043, 0.3935, 0.3909.

1-Hr Time Frame:

The price on the higher time frame is in a clear upward movement. It posted a deep correction where it found a support level around the 0.3900 USDT mark. The market could not continue to the downside in the opposite reversed and moved higher where it left a hammer bar with a long wick to the downside.

REN/USDT (Futures) Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.4061

Target Profit 1 @ 0.4200

Target Profit 2 @ 0.4339

Stop Loss @ 0.3922

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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