RNDR/USD 4H Chart Analysis – Strong Bullish Breakout Ahead?
Render Token (RNDR) has just broken a key trendline resistance, signaling a potential strong uptrend. Here’s why traders should pay close attention to this breakout.
🔥 Key Insights:
✅ Breakout Confirmation: The price has pushed above a long-term descending trendline, indicating bullish momentum.
✅ Retest & Continuation? A successful hold above the $3.90 - $4.00 zone could confirm the breakout and lead to higher price targets.
✅ Key Targets (Take Profits):
🎯 TP1: $4.47 – First resistance level.
🎯 TP2: $4.83 – Major resistance zone.
🎯 TP3: $5.21 – Strong psychological level.
✅ Moving Average Support: Price is now trading above the MA (3.56), acting as dynamic support.
📈 Trading Outlook:
If RNDR holds above $3.90, buyers could push the price towards the $4.50 - $5.20 range in the coming sessions. A rejection here may lead to a retest around $3.50-$3.60 before another push higher.
🚨 Bullish or Bearish?
This is a strong bullish setup, but confirmation above $4.00 with volume is key for sustained momentum. Keep an eye on Bitcoin and market sentiment!
Render Token (RNDR) has just broken a key trendline resistance, signaling a potential strong uptrend. Here’s why traders should pay close attention to this breakout.
🔥 Key Insights:
✅ Breakout Confirmation: The price has pushed above a long-term descending trendline, indicating bullish momentum.
✅ Retest & Continuation? A successful hold above the $3.90 - $4.00 zone could confirm the breakout and lead to higher price targets.
✅ Key Targets (Take Profits):
🎯 TP1: $4.47 – First resistance level.
🎯 TP2: $4.83 – Major resistance zone.
🎯 TP3: $5.21 – Strong psychological level.
✅ Moving Average Support: Price is now trading above the MA (3.56), acting as dynamic support.
📈 Trading Outlook:
If RNDR holds above $3.90, buyers could push the price towards the $4.50 - $5.20 range in the coming sessions. A rejection here may lead to a retest around $3.50-$3.60 before another push higher.
🚨 Bullish or Bearish?
This is a strong bullish setup, but confirmation above $4.00 with volume is key for sustained momentum. Keep an eye on Bitcoin and market sentiment!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.