Ren / US Dollar Cryptocurrency Forecast

$0.101
-0.0044 (-4.17%)
At Close: Mar 28, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Evaluation of Ren / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 10, 2024 Gain 70.22% PDF

The Ren / US Dollar cryptocurrency price fell by -4.17% on the last day (Thursday, 28th Mar 2024) from $0.105 to $0.101. During the last trading day the cryptocurrency fluctuated 4.24% from a day low at $0.0990 to a day high of $0.103. The price has risen in 7 of the last 10 days and is up by 12.15% over the past 2 weeks. Volume has increased on the last day by 835 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $1.42 million.

The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 62.32% during the next 3 months and, with a 90% probability hold a price between $0.131 and $0.191 at the end of this 3-month period.

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RENUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -8.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Ren / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Ren / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0944 and $0.0903. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Ren / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0853 and $0.0819. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Ren / US Dollar finds support just below today's level at $0.0853. If this is broken, then the next support from accumulated volume will be at $0.0819 and $0.0788.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0042 between high and low, or 4.24%. For the last week, the cryptocurrency has had daily average volatility of 9.88%.

Our recommended stop-loss: $0.0961 (-4.43%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (RENUSD) For The Upcoming Trading Day Of Friday 29th

For the upcoming trading day on Friday, 29th we expect Ren / US Dollar to open at $0.101, and during the day (based on 14 day Average True Range), to move between $0.0894 and $0.112, which gives a possible trading interval of +/-$0.0112 (+/-11.17%) up or down from last closing price. If Ren / US Dollar takes out the full calculated possible swing range there will be an estimated 22.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.104 (3.48%) than the support at $0.0853 (15.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Ren / US Dollar cryptocurrency A Buy?

Ren / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.987 Hold/Accumulate Downgraded

Predicted Opening Price for Ren / US Dollar of Friday, March 29, 2024

Fair opening price March 29, 2024 Current price
$0.101 ( 0.331%) $0.101

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for RENUSD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.105 4.51 %
R2 0.104 2.91 %
R1 0.103 1.93 %
Current price: 0.101
Support S1 0.0993 -1.26 %
S2 0.0983 -2.25 %
S3 0.0967 -3.84 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.110 9.44 %
R2 0.105 4.17 %
R1 0.104 3.48 %
Current price 0.101
Support S1 0.0853 -15.21%
S2 0.0819 -18.59%
S3 0.0788 -21.67%

FAQ

What is the symbol for Ren / US Dollar Cryptocurrency and on which exchange is it traded?
The symbol for Ren / US Dollar is RENUSD and it is traded on the CRYPTO (Cryptocurrencies).

Should I buy or sell Ren / US Dollar Cryptocurrency?
Ren / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Ren / US Dollar Cryptocurrency?
Ren / US Dollar Cryptocurrency can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ren / US Dollar Cryptocurrency.

What's the current price of Ren / US Dollar Cryptocurrency?
As of the end of day on the 2024-03-28, the price of an Ren / US Dollar (RENUSD) share was $0.101.

What is the 52-week high and low for Ren / US Dollar Cryptocurrency?
The 52-week high for Ren / US Dollar Cryptocurrency is $0.120 and the 52-week low is $0.0402.
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