the Renq Finance crypto asset is displaying strong buyingThe price action earlier displayed a tremendous downfall in RENQ price by making lower lows and highs on the daily chart. It dipped like a falling knife shattering all nearby support but failed to pierce through the major demand zone area and formed a support at $0.005000.
on the overall chart, it has shown bad performance in the past month, and three months by 7.18%, and 14.29% respectively, indicating a consistent downward trend.
However, the Renq Finance crypto has indicated a sign of a major turnaround as the price rose from a critical key level of around $0.005000 on the chart.
Its price action appears like the RENQ crypto is ripe for an upcoming splendid surge, as it harnesses energy to pierce the above resistance level and climb strongly to new altitudes from the current demand zone. In the same way, the Renq Finance asset is demonstrating bullishness and upward momentum as it keeps above major trend 20-day and 50-day EMA's, subject to the buyers' surge the price could thrust upward strongly from the dynamic supports of these major EMA's as well.
Similarly, the RENQ asset's technical indicator is exhibiting bullish performance as MACD shows a bullish cross with a growing graph of the histogram. The Renq Finance asset is showing that bulls are gaining control gradually and can continue to rise in the forthcoming sessions. Likewise, the Renq Finance crypto asset is displaying strong buying characteristics, as sellers are getting weaker over time over the daily chart and bulls can make the price jump higher and extend its gains.
The recent chart of the past week has shown good performance as it rose 23.70%, which indicates a possible healthy sign of the beginning of a consistent upward trend.
The RENQ crypto has experienced a decline of 1.55% in the last 24 hours and currently is trading at $0.0067.
Therefore, if the demand surges abruptly, the Renq Finance asset price could bounce back from the current level. Then the next goal for the price could be to reach $0.01000 and in between resistance could be $0.008950.
Another possibility would be, if the RENQ crypto price fails to stay above the $0.005000 level, it could decline further.
