REN approaching key levels

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Garry Kabankin
Sep 24, 2020

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

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Assets from this insight

Ren logo

RenREN

$ 0.330098

10.53%in last 7d
0