the Renq finance asset is displaying bearishness
The price action structure depicted a terrific downfall from the start of the year 2024 in RENQ Finance price by making lower lows and highs on the daily chart. It declined like a falling knife shattering all nearby support but failed to tear through the major demand zone territory on the chart and formed support at $0.005000.
On the overall chart, it has shown bad performance in the past six months, and three months by -38.75%, and -36.42% respectively, highlighting a consistent downward trend. However, this month it showed some buying momentum in Renq Finance and showed a price performance of 27.95%.
Recent price shows that the Renq Finance crypto demonstrated a sign of decline again as the price sank -4.93% this week from a vital level of around $0.007500 on the chart. The RENQ crypto seems like it is ready again for fall, as it meets the resistance level and dives.
Moreover, the Renq finance asset is displaying bearishness and a falling tendency as it has started to plunge below major trend 20-day and 50-day EMA bands, reliant on the sellers' surge could drop once again.
In the same way, the Renq finance asset is displaying bearish characteristics as MACD is showing a bullish crossover with a histogram at -0.0000046, the MACD line is at 0.000079, and the signal line is at 0.000126. Likewise, the RSI is falling smoothly as well, as it has taken flawless rejection from the 14-SMA smoothened line on the daily chart, implying that the asset is losing momentum and can achieve new depths. Meanwhile, the RSI is at 48.61, and the 14-SMA smoothened line is at 55.07.
At the time of publishing, Renq Finance is currently facing an intraday loss of -0.36% and its market price is trading at $0.006714.
Therefore, if the price plunges below the nearest support level of $0.006500, the price could dip once again. On the flip side, if the buyer's momentum surges once again from the current support level, the price could turnaround and the price could fly from the current support, and the price could head for higher levels on the daily chart and reach $0.008000, and $0.009000.
On the overall chart, it has shown bad performance in the past six months, and three months by -38.75%, and -36.42% respectively, highlighting a consistent downward trend. However, this month it showed some buying momentum in Renq Finance and showed a price performance of 27.95%.
Recent price shows that the Renq Finance crypto demonstrated a sign of decline again as the price sank -4.93% this week from a vital level of around $0.007500 on the chart. The RENQ crypto seems like it is ready again for fall, as it meets the resistance level and dives.
Moreover, the Renq finance asset is displaying bearishness and a falling tendency as it has started to plunge below major trend 20-day and 50-day EMA bands, reliant on the sellers' surge could drop once again.
In the same way, the Renq finance asset is displaying bearish characteristics as MACD is showing a bullish crossover with a histogram at -0.0000046, the MACD line is at 0.000079, and the signal line is at 0.000126. Likewise, the RSI is falling smoothly as well, as it has taken flawless rejection from the 14-SMA smoothened line on the daily chart, implying that the asset is losing momentum and can achieve new depths. Meanwhile, the RSI is at 48.61, and the 14-SMA smoothened line is at 55.07.
At the time of publishing, Renq Finance is currently facing an intraday loss of -0.36% and its market price is trading at $0.006714.
Therefore, if the price plunges below the nearest support level of $0.006500, the price could dip once again. On the flip side, if the buyer's momentum surges once again from the current support level, the price could turnaround and the price could fly from the current support, and the price could head for higher levels on the daily chart and reach $0.008000, and $0.009000.