REN approaching key levels

REN was 35% down last week. Close to where it was in early August. Almost lost its total gains during DeFi summer race.

Meanwhile a set of metrics indicates REN is approaching an 'interesting territory', worth closely looking at.

Let's uncover REN step by step.

Source: Sanbase
Source: Sanbase
Source: Sanbase
Source: Internal SANdbox
This metric compares token price when it comes into a wallet (probably buying) with token price when it goes out (probably selling)
Source: SanbaseWe're approaching historical bottom levels, both in short term (MVRV 30d) and long term (MVRV 365d)
Source: SanbaseOnchain activity still quite high, it's good
Sauce: Sanbase

More than that, we've already posted a bullish call on REN a few days ago in Bold Predictions. The only thing bearish that day was bullish sentiment in twitter. We're inviting you to check

There’s more of this Insight

Choose your subscription plan

Sanbase PRO
Unlock all PRO insights

Years of market experience, compressed in each report

Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.

Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.

Our previous TOP calls:
insight card
signal form

What you get with Sanbase Pro:

  • Members-only daily market insights and analysis
  • 30+ on-chain, social & project indicators for 900 cryptocurrencies
  • Custom alerts for the coins' price, on-chain & social trends
  • Santiment Spreadsheet plugin with 10+ pre-made market templates
  • Personalized asset watchlists and weekly performance reports

Gain unfair advantage with Sanbase Pro

Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!