Republic Protocol / Token (REN) Analysis 5/11 REN-ETH

Another new token in the crypto market is the Republic Token (REN) of Republic Protocol. An ERC-20 token as basis for an open source decentralized dark pool exchange. The ICO took place in February 3rd of this year.
The prices are still very young and not all trading platforms are supplied with data. Nevertheless, I was able to find a price chart on the IDEX stock exchange. Attention: The presented data are so called End of Day data! The antagonist of REN in this case is Ethereum (ETH).

REN / ETH is in a slightly upward trend channel. After the recent correction, the trend has accelerated somewhat. However, this momentum increase in volume has not yet been confirmed, which is why I would wait a bit longer with a long start. In the area of the 61.8 Fibonacci retracement (gray box in the screenshot) you could dare a bottom entry after a bottom formation. The price should then no longer leave the big trend channel down.

This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!

Cheers Jessy