REN Soars: Is There Still An Opportunity To Buy It Now?

The current price is $1.16. REN has been one of the best indicators in the cryptocurrency market over the past few weeks, and the price of this cryptocurrency has increased from $0.43 to $1.3 since the beginning of August 2021. Ren adds more liquid assets to the Ethereum ecosystem, which directly increases the utility of Defi. This cryptocurrency has made a big leap in a short period, and if you decide to buy REN, you should consider that the price may also weaken compared to current levels.

It is necessary to take into account the behavior of large investors who may unexpectedly sell a significant amount of REN, this can lead to a sharp correction since a small price change can provoke the liquidation of traders with high leverage. BRENT is currently trading around the $1.19 level if the price falls below the $1 support. The next price target may be at $0.8 or even lower.