Renzo Price Prediction: REZ Plunges 43% as World’s First AR/VR Cryptocurrency Closes at $6 Million

adminMay 2, 2024

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The price of Renzo has plummeted 43% in the last 24 hours. Traded at $0.1450 As of 4:40 PM ET, trading volume had soared to $399 million.

After airdropping 7% of REZ’s total supply to 103.5K users on April 30 and listing on Binance Launchpool the same day, the token experienced a typical downward trend.

Many tokens undergo a price adjustment immediately after an airdrop, and there is a possibility that the price will recover and reverse to an upward trend.

Renzo Price Soars Above Falling Wedge Pattern

Renzo price chart analysis source: Geckoterminal.com — REZUSD Chart Analysis Source: Geckoterminal.com

After the launch and airdrop, Renzo’s price showed a downward trend, trading at highs and lows within a descending wedge pattern.

However, the downtrend was resisted at the $.0139 level, allowing for a bullish reversal as REZ crossed the upper boundary of the wedge.

REZ is trading below its 50-day simple moving average (SMA). This shows the level of resistance that Renzo price must overcome to push the price above $0.1522.

The relative strength index (RSI) is also rebounding from the oversold level of 30 to 41, showing that pressure on the uptrend is increasing. If the buying trend continues, RSI could soar to the 70 overbought range. This indicates strong buying pressure and continued investor optimism.

Additionally, MACD (Moving Average Convergence Divergence) is also showing strength. The MACD line (blue) crosses above the signal line (orange), indicating a bullish crossover. Bulls often use bullish crossovers to drive prices higher.

Renzo price prediction

Renzo price analysis shows that REZ is currently reversing into an uptrend with the price rising above a descending wedge pattern with a target of $0.20.

Bullish investors are taking advantage of movements in the RSI and MACD indicators to look for additional purchases.

If the bears apply more pressure, the price may retrace further, with the bulls looking for support around $0.1343.

Meanwhile, investors are also buying the new pre-sale $5SCAPE, which has already raised over $5.7 million.

Buy 5SCAPE now and secure profits of up to 205%

Five Scape (5SCAPE) This is an innovative project that combines VR gaming and blockchain technology. We aim to revolutionize the VR gaming experience by providing immersive games, VR hardware, and a utility token called 5SCAPE.

5thScape, a cutting-edge cryptocurrency project set to revolutionize augmented and virtual reality, offers investors the opportunity to dive into the future of immersive gaming.
It has plans for innovative VR hardware and a variety of games including Cage Conquest and Epic. pic.twitter.com/FaIicOGq3w
— 5th Scape (@5th_scape) March 23, 2024

The development team’s dedication to immersive VR gaming experiences makes 5th Scape an interesting project to watch. The potential to earn significant returns on investment further increases the appeal of the cryptocurrency and gaming space.

Here you go #5th scenery family! 🎮 Stopped by to share some amazing news. Our dedicated team is constantly increasing the thrill factor of our latest projects!
🚀 Stay tuned for the latest updates and improvements as we continue to redefine what is possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024

The project has garnered the attention of investors and the cryptocurrency community through its strong presence on social media and positive reviews from analysts.

Michael Wrubel, a cryptocurrency analyst with over 311,000 subscribers on YouTube, expressed bullish sentiments about 5SCAPE, citing its potential for parabolic gains.

Since the listing price is fixed at $0.01, purchasing tokens today at $0.00327 per token would net you a 205% profit pre-launch.

If you are interested in participating in the 5th Scape pre-sale, you can purchase it. 5SCAPE tokens with ETH, MATIC, USDT or BNB on the official website. You can also make purchases directly with your bank card.