What is REN? Ren (REN) is an Ethereum token that enables Ren’s open blockchain-to-blockchain cryptocurrency transfer mechanism.
REN Price Prediction | Introduction
We can rely on technical analysis, price action analysis, historical data, and fundamental analysis to identify the most accurate REN price prediction. The REN crypto project is one of the most intriguing startups in the blockchain revolution, which makes REN crypto price prediction critical.
At the time of making this conclusion, REN was trading at $0.4569, according to data by CoinMarketCap. Altogether, the market cap of the REN project is estimated at over $1 billion. With nearly one billion tokens currently in circulation, this REN crypto prediction will analyze everything to determine whether REN is a solid investment.
Making the most accurate price predictions is something we do with absolute excellence. The REN project is an ambitious plan to enable seamless transfer of any tokens between any blockchains. Here is everything you need to know before you place your bet on REN crypto.
REN Price Prediction: Technical Analysis
REN price has been on steady growth since mid-July, setting up new higher highs almost consistently. The buying pressure almost failed to sustain REN in September, however, leading to a correction and return to the previous pattern. While the Altcoin is trying to set itself up for favorable REN price prediction, a failure to break the next significant resistance level could result in a steep correction.
From the chart above, we can see that REN has been hovering above $0.3 for the better part of 2021. The REN crypto price prediction to hit the point of max pain before breaking out to $2. Despite recent respite, things look grim for REN as it approaches a resistance zone at $1.1149 and $1.2222, which REN price prediction reveals the crypto must stay above.
REN saw price saw a massive boost on New Year optimism. However, the buying pressure failed to continue, leading to a 40% decline, creating a lower low at $1.0595 and completely floored at $0.3078. While REN price has recovered roughly 30% since this point, it is still traversing the supply zone ranging from $0.7464 to $1.1149. As long as REN stays inside this supply zone, the crypto will bear no directional bias, which could only mean the price goes either way.
However, a decisive close above $1.3 will indicate that the buyers are making a comeback. In this REN price prediction, REN price will head toward the range high than $1.3909, a decisive daily candlestick close above, which will confirm the start of a new uptrend. Under this REN crypto price prediction, REN has the chance to tag the 161.8% trend-based Fibonacci at $3.5. This ascent will constitute a 100% upswing.
REN Price Prediction: Market Opinions
The internet is abuzz with trading experts and market pundits presenting a well thought after REN crypto price prediction at every significant price milestone. With so many predictions, it can be almost difficult to separate the real REN price prediction from the noise.
Currency.com’s REN price prediction is that the crypto is on a refuel break before buying pressure triggers a bull rally to $3.577. The REN price forecast for November – December is an average price of $1.592. Overall, the REN price forecast for the next year is bullish, with a possible high of $3.7. The make or break point for the REN price forecast for the rest of the year is $1.8 to confirm a bullish start to 2022.
WalletInvestor REN price prediction is a solid buy opportunity before the end of the year. REN’s price forecast for November – December at $1.5 is projected to explode if the bulls can flip one crucial barrier to start 2022 on a bullish vantage point. The REN price prediction for the rest of the year is a buying opportunity before REN hits $3.577. The analysis does not expect REN to face any major hurdles in 2022.
DigitalCoin is also optimistic about the REN price forecast for the next year. The REN price forecast for November – December is the formation of critical support for 2022 at $1.46. Traders eyeing a solid return can rest on the REN price forecast for the rest of the year that forecast to $2.14. The buying window is projected to close as the year comes to an end, with the REN price forecast for the rest of the year expected to remain bullish.
Gov.Capital forecasts bull runs resuming as the REN price forecast for the rest of the year. As REN price forecasts prepare for upswings in 2022, Gov.Capital offers a REN price forecast for the next year that is resistance-infested. However, REN is forecasted to reach $2.32. In the meantime, the REN price forecast for November – December is $1.24 on its way to $5 in five years.
PricePrediction.net offers three reasons why REN will reach $36.10 by 2030. For starters, a REN price forecast for November – December of $2 to contemplate a strong start to 2022. The REN price forecast for the rest of the year is a price target of $5 on a burst of new adopters. Based on this analysis, the REN price forecast for the next year according to PricePrediction.net is $5.
TradingBeasts REN price forecast for the next year is slightly bullish at $1.2985. The REN price forecast for November – December is a tumble before a close above $1.2 before the close of 2021. This REN price prediction forecast REN crypto price is playing it safely away from a hurdle at $1.3. REN is bound to tumble according to the price forecast, but higher highs may be on the horizon.
REN Price Prediction: Cryptocurrency Experts and Influencers
Jalapablo, for starters, pitches an ironclad REN price prediction, assuming REN price succeeds in flipping several hurdles into a support floor. It will result in a $0.9907 REN price forecast for November – December. While $1.35 remains a formidable barrier to REN price forecast for the next year to overcome. Clearing it will open up the REN price forecast for the rest of the year to $2.
Likewise, WildBill is choosing to stay confident as REN continues to rise steadily even though things might seem slow for the REN price forecast for November – December. In such a case, $1.2237 appears like a sensible REN price forecast for the next year. For the REN price forecast for the rest of the year, this crypto trading expert is projecting REN price being squeezed into a bullish pattern towards $1.9.
Latest News and Happenings Concerning REN
2021 has been a breakout year for REN crypto performance as well as its adoption. For starters, RenVM is now feature-complete, with host-to-host transactions now included. RenVM Greycore is on the testnet phase and will surely expand soon. Everything is falling into place to make RenVM more decentralized. This is the perfect moment to look forward to every bullish REN price prediction. In the meantime, Ren Labs is focused on the next phase of Ren, which involves the growth of third-party application ecosystems.
The team behind REN is working on empowering projects to create a limitless future for the decentralized web. That includes two primary mandates: the development of RenVM and building application independent of RenVM. The road ahead will be marked by battle-testing existing features, dealing with bugs, and continued review and audit. RenVM is at a point of advantage to create an identity on whichever chain it chooses. That way, the network will allow fund storage and authorize ERC20 minting, which will enable RenVM to implement interoperability between different chains.
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The next major battlefront for RenVM is building an ecosystem of decentralized applications. This target is no small feat, and the strength of REN crypto price prediction is riding on this mandate. Ren labs have secured the support and funding of Alameda for the development of new and exciting applications. The plan will grow the ecosystem by active development. Hence, in 2022, investors should expect to see more and more projects developed by Ren Labs to showcase the potential use-cases of RenVM.
Already, Ren Labs is taking the first step to accomplishing this goal. A cross-chain Automated Market Making solution is in the works, which will allow off-chain liquidity providers to pool their assets into a shared pool. Ultimately, these users will be able to trade against multiple assets seamlessly. The first step in this ambitious project is Catalogue finance as an important catalyst for an application built on top of RenVM. With these levels of projects streams in the pipeline, it calls for greater involvement of the community and Darknode holders.
The cross-chain liquidity protocol is complete after four years of intense research and development. The success of RenBTC and other popular assets has enabled Ren to create a network of thousands of node operators. The result was more than 7.6 billion of previously untapped liquidity to DeFi and $13.4 million in revenue for network operators. The acceptance of REN in this early stage and growth in the coming years represents an opportunity for investors who can weather the volatility associated with this new market.
REN Price Prediction: Verdict
REN price prediction is projecting a rally to a possible new all-time high in 2022, shortly following a support level upgrade. The median REN crypto price prediction is bullish. Thus, REN still occupies a place among the best crypto investments for 2021 – 2022. Also, this price prediction is almost as good as VTHO price prediction, or for HBAR price prediction.