Crypto Contest July 12: Ren

Ren (Binance: RENBTC) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Ren began a wave one advance on May 13. The red wave one finished on June 10, and the red wave two correction ended on June 16. The red wave three advance finished on July 2, and the red wave four correction ended on July 9. If this wave count is correct, Ren should be heading next towards the July 2 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Ren is an open protocol that enables the permissionless and private transfer of value between any blockchain. You can read the most recent interview with Ren co-founder Loong Wang here.

(Sources: Ren and Defiprime)

How can I vote? Where is the contest?

You can vote by following this link.

About the author: TIMM Trader

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