REN May Have a Higher Upside Potential
The Ren (REN) has seen a 4.6% increase to $0.060 this week, following a larger rise of 13.0% in February. This surge in February appears to be an attempt to keep pace with Bitcoin (BTC), which has increased by 18.0% to reach $50,423, its highest level since December 28, 2021.
On the surface, Ren seems to have a potential upside of 5.0%, aiming for $0.063 per altcoin. However, when considering the spot Bitcoin-ETF rally from last autumn, the upside potential could be even more significant. During that period, Bitcoin increased by 60%, while Ren surged by 120%. With this ratio in mind, there might be an expectation for Ren to add another 23%, bringing its prices to $0.072, very close to the resistance at $0.075.
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