This Ren (REN) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our REN price analysis and prediction. But before we move on to REN technical analysis, let’s take a brief look at the project itself.
What Is Ren (REN)?
Ren (REN) is an open protocol developed to offer interoperability and liquidity among various blockchain platforms.
In May 2020, Ren, formerly known as Republic Protocol, launched the virtual machine mainnet RenVM. The platform completed a $34 million ICO in 2018. More so, Ren’s native token is REN which works as a bond for those running nodes which provide RenVM, called Darknodes.
In addition, Ren focuses on expanding the interoperability, and therefore accessibility of DeFi by removing hurdles involved in liquidity among blockchains.
Now that we know what is REN, what are we waiting for? Let us now head to our REN price analysis and prediction for 2022.
REN Current Market Status
As of the time of writing this Ren cryptocurrency price analysis, REN trades at $0.124688 with a 24-hour trading volume of $12,004,816. The price of REN has decreased by 0.81% in the last 24 hours.
| Market Cap | $124,619,598 |
| Fully Diluted Valuation | $124,619,598 |
| Circulating Supply | 1,000,000,000 |
| Total Supply | 1,000,000,000 |
| Max Supply | 1,000,000,000 |
| 24 Hour Trading Volume | $12,004,816 |
Currently, Ren has a circulating supply of 1,000,000,000 REN. The top cryptocurrency exchanges for REN are Binance, Huobi Global, OKX, FTX, and Mandala Exchange.
Now, let’s proceed to the next part of this REN price analysis for 2022.
REN Price Analysis 2022
Currently, Ren holds 172nd place on CoinMarketCap. But will the latest upgrades, developments, and changes in the REN blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this REN price prediction article.
The Relative Strength Index (RSI) is 49.54, which means that Ren (REN) is in neither an overbought nor oversold state. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of REN.
Since the start of 2022, REN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, REN has a competitive market this year.
Is REN a good investment in 2022?
The chart below shows that REN has been moving sideways for quite a long time. However, there's a chance that this trend will be averted, resulting in a REN bull run up to $0.145 after breaking the $0.13 resistance.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone REN from its uptrend position. In simpler terms, the price of REN might drop to almost $0.089, a bearish signal.
Meanwhile, our long-term REN price prediction for 2022 is bullish. REN coin has a high possibility of reaching an average forecast price of $0.15 this year. However, that will only happen if it breaks many previous psychological resistances.
REN Price Prediction 2023
If this bullish trend continues, REN will reach $0.773 by the end of 2023. Moreover, the first half of 2023 is going to show fast growth, up to $0.6. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $0.8 is quite optimistic from the price point of view but undoubtedly feasible for the near future.
REN Price Prediction 2024
If REN holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $0.9, making it not plummet but play consistently.
REN Price Prediction 2025
As per the latest upgrades, developments, REN price prediction, and new project forecasts of the platform, REN investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of REN in the crypto market, and it will be the best investment as the price can spike and reach around $1.
Conclusion
Ren has a bright future ahead of it in 2022. With the ongoing developments happening within the REN ecosystem, as well as in the overall crypto market, we may see REN reach new heights.
The bullish REN price prediction for 2022 is $0.145. However, it may even reach $0.15 if investors have decided that REN is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
If you want to discover another price predicitons, please head to: Btt Price Prediction
