RENDERUSDT seems to be forming a descending triangle on the 4H timeframe.3 clear touches on resistance, and well-defined two-tap horizontal support at $2.50.
Key Levels to Watch 🔑
• $2.50-$2.75 Main support and daily demand zone
• $3.80-$4.20 Daily sell order block (potential resistance)
• $5.00-$5.20 4H sell order block (potential resistance)
Breakout Targets 🎯
⬆️ $5.00
⬇️ $1.50
Still in a No-Trade Zone, wait for confirmation (breakout candle close with good volume).
Note
Potential alternative entry in case of rejection at resistance, with clear invalidation below the ~$3.15 order block.1H zoom in.
Trade active
Upside breakout confirmed.This places the target at $5.00, provided it manages to clear the $3.80-$4.20 order block.
Invalidation is a break back below the resistance.
Note
RENDER tapped the sell order block at $3.80, and formed a doji.If you missed the breakout, it's worth watching for a potential retest of the resistance as support.
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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.