REN and Polkastarter (POLS) Technical Analysis: Bears Dominating?

REN and Polkastarter prices are shaky. From the daily chart, POLS and REN might retrace to $1.5 and $0.60 in the short term.

REN

The protocol is interoperable, providing liquidity to different blockchains using REN.

Past Performance of REN

There are hints of strength that are being rebuffed by sellers of September 7.

REN crypto is down roughly 10 percent against the USD and trending inside the September 7 bear bar.

Technically, this is bearish and may be the basis for even more losses in the medium term.

Day-Ahead and What to Expect

The REN token price is stable and oscillating inside a bear bar as per the REN technical analysis in the daily chart.

Nonetheless, REN crypto traders are upbeat, expecting more gains above $0.80 in the short term.

If REN coin sellers flow in, this could be dashed, pushing the token below $0.60—the immediate support and sell trigger line.

REN Technical Analysis

From a top-down approach, REN is on an uptrend.

However, in the short term, the rejection of higher highs and prices recoiling from $0.80 might spark a sell-off.

Aggressive sellers could find entries on a pullback towards $0.80.

Meanwhile, a close below $0.60 offers better entries for sellers willing to wait for trend definition.

In that case, REN could slide back to $0.40.

Polkastarter (POLS)

The platform is a launching pad on Polkadot using POLS for governance.

Past Performance of POLS

The POLS crypto price is under pressure.

As of writing, the coin is down nine percent against the USD on the last trading day and below the middle BB—dynamic support—now resistance line.

The failure of POLS token bulls to sustain prices at spot levels may be a reason for a sell-off in subsequent sessions.

Day-Ahead and What to Expect

The POLS technical analysis points to weakness, reading from price action in the daily chart.

This could be worsened if Polkastarter buyers fail to reverse September 7 draw-down or drive prices above the middle BB.

If POLS token prices drop below this week’s lows, there will be more losses in the days ahead.

POLS Technical Analysis

From an Effort-versus-Results perspective, POLS is under pressure and fragile.

As mentioned earlier, losses below $1.61—this week’s lows, would serve to confirm September 7 retracement, firing off a selloff.

In this case, POLS might melt below this week’s floors to retest July 2021 highs of around $1.5 as bears of Q2 2021 flow back.

   
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