Warena Technical Analysis: Price Upsurge By 73.23%

Key technical points:

RENA Past Performance

RENA technical analysis reveals that the cryptocurrency price has surged by 73.23% in the past 24 hours. The coin's market capitalization currently stands at $9,576,797.83 trading volume in the same period is $902,993.50.  The cryptocurrency is currently trading at $0.08936

In the past 7 days, the price of RENA has increased by 16.85%. This surge in price can be attributed to a number of factors including but not limited to the following:

[caption id="attachment_237189" align="alignnone" width="851"] Warena[/caption]

Source Trading view

RENA Technical Analysis

The price of RENA has accelerated in the past few hours and this is likely to continue in the short term. The MACD is currently in the bullish zone and the RSI is 53 heading to 60 which indicates that the coin is in the overbought zone. However, this does not mean that the price will correct immediately as the market is still in an uptrend. The Bollinger bands are also squeezing which indicates that the price is in a consolidation phase and is preparing for a breakout.

Traders should, therefore, watch out for a possible pullback to support levels of $0.09 and $0.08 where they can take profits or initiate long positions. In the event that the price breaks out above $0.25, it is likely to continue climbing to test the next resistance level of $0.35.

Warena Upcoming Trend

The overall market trend is still positive and RENA is expected to continue its upward climb in the short term. However, traders should be on the lookout for a possible correction at key support levels. In the long term, RENA is expected to maintain its upward momentum as the cryptocurrency market continues to grow.

Support levels: $0.09, $0.08

Resistance levels: $0.25, $0.35