REN/USDTPERP Long-Term Trend: Bullish
Key Resistance Levels: 0.36140, 0.41760, 0.48136
Key Support Levels: 0.30791, 0.28226, 0.25055
The price on the higher time frame failed to break a key strong support around the 0.28226 USDT mark, and posted an engulfing bullish pattern which led to a reversal to the upside. The price is still in a clear upward movement where several bullish bars has been posted above the strong support level.
REN/USDTPERP Medium-Term Trend: Bullish
On the lower time frame, the asset is bouncing inside an ascending channel pattern where we expect a lower correction to the strong support that coincides with the lower end of the channel. This could cause a reversal and a move upward again in the same direction of the main trend.
Buy Limit Order @ 0.32684
TP 1 @ 0.35939
TP 2 @ 0.36140
Stop Loss @ 0.31606
Trade Safely 🙂