REN, an open protocol, is designed to allow interoperability among different blockchain platforms.

Previously known by the Republic Protocol name, REN launched RenVM, its virtual mainnet in May 2020. In 2018, Ren had successfully completed a $34M initial coin offer (ICO).

REN is complex and has many use cases. But it is ultimately designed for investment in DeFi projects to overcome barriers.

RenVM is a network that consists of virtual computers. Dark Nodes are the names of the machines that make up the virtual machine.

REN charges various fees internally, but none go towards profitability. Instead, they are paid to miners. It is also an ERC-20 token. This means that it attracts varying gas prices to power transactions.
<h2>Past Performance of REN</h2>
After finding the demand in late July, the REN coin price has grown more than 250% with a parabolic recovery at the time of writing. Moreover, the weekly bullish engulfing candlestick in progress has increased 49% since the opening.

<a href="https://www.tradingview.com/x/qZx8e5t6/"><img class="aligncenter size-medium" src="https://www.tradingview.com/x/qZx8e5t6/" width="3072" height="1546" /></a>

Source - <a href="https://www.tradingview.com/x/qZx8e5t6/">Tradingview</a>
<h2>REN Technical Analysis</h2>
REN coin <a href="https://www.cryptoknowmics.com/news/ren-and-polkastarter-pols-technical-analysis-bears-dominating/">price is trading</a> at $1.00 at the time writing with a fall of 3.42% in the past 24 hours. The ongoing bull run stands strong against all the bearish short-term retracements and grows back stronger. A bullish entry waits at the retest of $1 while a safer entry spot is at the support trendline.

<a href="https://www.tradingview.com/x/96tMXgzm/"><img class="aligncenter size-medium" src="https://www.tradingview.com/x/96tMXgzm/" width="3072" height="1546" /></a>

Source - <a href="https://www.tradingview.com/x/96tMXgzm/">Tradingview</a>

The strong uptrend of the REN coin is pushed with a solid support trendline that has pushed the price higher 4 times marked in the chart. Furthermore, the recently made bullish engulfing candlestick rises above the resistance level of $1. The breakout of this level has increased the chances of a new All-time High.  

The bullish rise may find opposition near the $1.4 or $1.84 resistance levels. 

Whereas, the support levels rest at $0.85 and $0.66.

The exponential moving averages of 50, 100, and 200-days rise higher, increasing the possibilities of bullish crossovers. The crossovers will increase the underlying bullishness multiple folds.

Currently, the RSI indicator is residing at 65% as it falls back a little from the overbought zone. 

Furthermore, the coin price is moving above the indicator line of the super trend indicator projecting an uptrend in motion. The uptrend grows stronger with frequent demands met near the support trendline.

The fallout below the trendline or super trend indicator line will signal the end of the uptrend. When this happens, it will be a great shorting opportunity.
<h2>Day-Ahead and Tomorrow</h2>
Ren coin price shows no weaknesses in the uptrend in action. Investors may find the retest of the $1 mark as a bullish entry spot with an excellent risk to reward ratio.

REN Technical Analysis: Will REN Hit the $1.5 mark?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

REN Technical Analysis: Will REN Hit the $1.5 mark?

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