Ren Price Prediction: REN Resumes The Uptrend Despite Bloodbath In Crypto Market

08 Oct, 2020 Updated 18 Jun, 2025

By John Isige

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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

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REN/USD is holding above the 50 SMA initial support following a breakout above a descending parallel channel.
Ren leads DeFi projects in recovery, aiming for $0.30.

Decentralized finance (DeFi) tokens such as Ren, retreated massively in September as discussed in the Ethereum price forecast. The sector offered alternative and diversified investment options to Bitcoin and other major digital assets. The tremendous support saw tokens rally by over 100% with some selected assets like Yearn.finance hitting all-time highs of $44,000.

Ren also experienced massive growth from March 2020, hitting all-time highs of $0.6 on September 1. Unfortunately, its woes started, leading to losses towards $0.1. Support established at $0.16 allowed the bulls to regain control over the price. However, attempts to go back to the yearly highs have been thwarted by the bearish wave cruising mainly in the DeFi ecosystem.

At the time of writing, Ren is doddering at $0.26 after rallying over 10% in the last 24 hours. The token is among the most-improved digital assets in the market. The 4-hour chart illustrates a breakout from a descending parallel channel. The price is also holding above the 50 Simple Moving Average (SMA).

REN/USD 4-hour chart

The Relative Strength Index (RSI) emphasizes the growing bullish grip following a vivid recovery from levels near the oversold. As the RSI grinds closer to the overbought, the buy orders are bound to increase, creating more volume that will support the uptrend in the near term.

Resistance is anticipated at $0.28 and $0.30, respectively. Once these two hurdles are flipped into support levels, the journey back to the all-time high will gain traction. On the downside, support at the 50 SMA is key to the uptrend. Other key levels to keep in mind include the 100 SMA, $0.24, and $0.22.

Ren Intraday Levels

Spot rate: $0.26

Percentage change: 0.38%

Relative change: 0.26

Trend: Bullish

Volatility: Growing

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.