REN is Challenging its Downtrend
Ren (REN) is adding 10.7% to $0.0505 this week, slightly retreating from its $0.0513 peak on Tuesday. Most importantly, the token has returned to the support at $0.0500. It is now attempting to hold above this level and possibly approach the resistance of the downtrend at $0.0595. If this level is surpassed, the token will target $0.0750. This optimistic scenario is supported by Bitcoin (BTC), which is targeting $70,000. A Bitcoin rally may help REN climb by another 16.0% to $0.0595. If BTC continues above its all-time high, REN is likely to continue rising, breaking through the downtrend resistance.
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