Technical analysis by clasaicrypto about Symbol REN: Buy recommendation (7/26/2024)

📩 Pair: RENUSDT📈 Direction: Long💯 Leverage: Cross 5X - 10X - 20X📊 Entry 1: 0.0470📊 Entry 2 (DCA): 0.0400✅ Target 1: 0.0600✅ Target 2: 0.0750✅ Target 3: 0.0900⛔️ Stop Loss: 0.0350#REN is currently compressed between the trend lines of a descending wedge, and we expect a bullish breakout soon. If #RENUSDT faces resistance at the upper trend line of the wedge, we might see a retest of the bullish zone around $0.0400, which is a strong support level, rich in liquidity and a key area for potential buy orders.Entry Strategy:First entry at $0.0470If the price drops, we will make an additional entry (DCA) at $0.0400 to lower the average cost of the investment.However, if REN does not recover from $0.0400, the focus will shift to the next crucial support in the lower demand zone at $0.0350. The probability of a strong rebound here is quite high, making this level critical to watch. On the other hand, if REN continues to decline, the bears might take control, leading to a bearish continuation and marking a significant shift in market sentiment."Manage your risk – never trade with more than 1% of your capital on a single transaction."ENTRY 2 (DCA): 0.0400