Ren Corrects After Hitting Resistance Around $0.49
bitcoinschannel.com
Ren (REN) price rose 25% on Sunday to hit highs of $0.493 as active addresses also jumped to a seven-day high
Ren’s native token, REN, is facing increased downward pressure and has not been able to sustain the upside momentum seen over the weekend. Trading on Monday has been characterised by a series of lower highs, moving prices further away from the local top.
According to Santiment, the 25% price surge for REM/USD since Sunday is part of a breakout that “coincides with a 7-week high in both daily active addresses and social volume”. The daily active address is an indicator that drives price, in contrast to the social volumes metric that has often indicated an asset’s local tops.
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$ 0.10165
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