Ren Protocol Breaks Out, Is This Be A Relief Bounce?

REN price could be ready to break out from the downtrend as price gears up for a short-term recovery creating more bullish sentiment. REN looks strong on both low and high timeframes. The price of REN breaks out on the daily timeframe after forming an descending triangle. Ren Protocol (REN) has recently shown great recovery after some setbacks as the price has remained downtrend against tether (USDT). Previous weeks in the crypto space have been slow, with most altcoins and major cryptocurrencies such as Bitcoin (BTC) moving in a range. The month appears promising, with altcoins such as Ren Protocol (REN) bouncing off their lows with hopes of a rally with the current trend shift. (Data from Binance) Related Reading: Bitcoin Price Starts Uptober With Record Open Interest Increase, BTC Rally Will Be Short lived? Ren Protocol (REN) Price Analysis On The Weekly Chart The new month has been a relief for most crypto projects, with altcoins such as REN showing bullish strength and BTC leading the market rally from a low of $18,800 to $20,100. With the market looking more promising for crypto assets, we may see more cryptocurrency recovery, as the previous month prevented major altcoins from rallying. In recent weeks, the price of REN has not shown the same strength as seen in other altcoins such as Cosmos, as it has continued to fall to its weekly low of $0.1. Following a rally from a low of $0.1 to a high of $0.11, the price of REN ...