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Ren (RENBTC) Chart Analysis
Privacy altcoins/token are pretty famous within the cryptocurrency community, and that's because we beautiful and smart people love privacy but this is not why I am sharing it, as you might know already, I focus mainly on TA (technical analysis), so let's look at the chart and see what we've got.
12H Chart:
Looking at the chart above, I couldn't fail to notice how well the 0.00000444 level has been holding RENBTC price.
Now, this isn't enough to signal an upcoming bullish move, as a support can become weaker each time that it is tested, but in this case, we also have bullish divergence on the MACD and RSI, which tells me that a bounce might be coming.
This is also a low volume token on Binance, which is another strange find.
Very likely close to the bottom, low volume, privacy coin, and bullish divergence; now these are enough signals to pick my interest.
On the daily time frame we have a falling wedge pattern, which is bullish, as well as a bullish crossover on the MACD.
The weekly time frame is showing a double bottom.
This might be a good one in the future...
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