Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms. It was earlier known as Republic Protocol. Ren launched RenVM, its virtual machine mainnet in May 2020. The company had a bumper $34 million initial coin offering (ICO) in 2018. REN is the protocol’s native token and functions as a bond for people running nodes powering RenVM, known as Darknodes. Ren is expanding interoperability and increasing accessibility of decentralized finance (DeFi). It is providing liquidity between blockchains. https://ift.tt/37Tew6y Price Analysis of REN The currency is trading at $1.07 for the last two days, and the active volumes have increased from December 2020. This has been the effect of interest on the opening of DeFi enabling currencies that are solving trading issues for investors and traders. The price has seen highs of $1.093 and lows of $0.012 during the last 24 hours. It is a good run for REN for the last few months. The EMA (9) is at a robust $1.45 indicating the possibilities of the prices to come. The currency is trading at a volume of 8.42 million out of the odd 9.95 million issued. This shows a very healthy open interest for the currency and one can expect these prices to sustain. The technical show the price predictions at a neutral stage as of now. However, the ADL of 105 is showing strong sustenance at the current levels. While there is no downward pressure on the prices, the current price of REN is established on the back of the 1.20% increase in the last 24 hours. In the past 30 days, the price of REN has increased by 103.10%, while its accomplishments on the 1-year time frame amount to 121.17%. The expected volatility for the next 10-15 days is at its highest value. Watch the support levels of $0.97 in the next two days. If the price sustains and goes beyond $1.05 then it can go much higher till $1.2.
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