REN/USDTPERP Long-Term Trend: Bullish
Key Resistance Levels: 0.86420, 0.91040, 0.91100.
Key Support Levels: 0.75800, 0.67110, 0.67000.
The price on the higher time frame failed to break the 0.67110 USDT mark and posted an engulfing bullish pattern near this level. This led to a reversal and a move higher where the buyers are in control of the market. Further movement to the upside could be seen in the coming hours.
REN/USDTPERP Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish flag formation where a lower correction could be seen to the 50% Fibonacci retracement level which coincide with the bespoke support around the 0.74945 USDT mark. Once testing this area a reversal could be seen and then a move upward toward the next key level.
Buy Limit Order @ 0.75945
TP 1 @ 0.86010
TP 2 @ 0.91040
Stop Loss @ 0.72645
Trade Safely 🙂