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RNDRUSDT Promising Trajectory💎 On May 19th, #RNDRUSDT reached its highest point in 400 days, testing the $2.95 level. However, what followed was a persistent decline, resulting in a substantial 57% drop. 💎 A noteworthy aspect of this decline is the price action surrounding the 61.8% Fibonacci support level. Bulls have demonstrated resilience in defending this critical level. Simultaneously, a bullish divergence pattern has emerged on the MACD indicator, hinting at a potential trend reversal. 💎 Adding to the positive developments, last week witnessed a decisive breakthrough above the downtrend trendline by #RNDR. This represents another significant piece of the price action puzzle. 💎 With these factors combined, it becomes plausible to consider that the probability of an uptrend has significantly increased. As long as #RNDRUSDT maintains its foothold above the current support area, the prospect of a sustained long-term uptrend remains intact. 💎 A formidable resistance barrier looms at the psychologically significant level of $3.00, coinciding with the 161.8% Fibonacci retracement level. This implies substantial upside potential, amounting to nearly 140%. However, it's essential to recognize that such a robust move may unfold over weeks, if not months.
RLong
by MyCryptoParadise
RNDRUSDT heading towards weekly resistanceThis one is going as per expectation. The monthly support is doing its job and holding the price well and making the price bounce if the price hits that level. High time frame view is still the same and expectation is there that the price will be held by the monthly support and will head towards weekly resistance. I do see that weekly resistance stopping the price and making it stop its upward move at least temporarily but we will reevaluate once the price reaches that resistance zone.
RLong
by angela_altair
RNDR on monthly support, very likely to head higherAs mentioned in the original post, this one has hit the monthly support and has been since trading around that support zone. The price has bounced from there and I think it is getting ready for the upward move. I think this is a very good opportunity. Even if the price dips again into the support zone, the probability of bouncing from there is very high although I do not see very likely that the price will dip deeper into the support zone again. This is also characterized by the last weekly candle close which rejected any attempt to go lower than the previous weekly low.
RLong
by angela_altair
2
#RNDR/USDT 1D (Bybit) Rising wedge breakdown and retestRender Token pulled back to 50MA resistance and could push a bit higher before resuming the retracement down to 200MA support. ⚡️⚡️ #RNDR/USDT ⚡️⚡️ Exchanges: ByBit USDT, Binance Futures Signal Type: Regular (Short) Leverage: Isolated (2.2X) Amount: 5.0% Current Price: 2.27450 Entry Zone: 2.29510 - 2.52750 Take-Profit Targets: 1) 1.89170 2) 1.50035 3) 1.10905 Stop Targets: 1) 2.84610 Published By: @Zblaba CRYPTOCAP:RNDR #RNDRUSDT #Render #AI #BigData #GPU #Web3 Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0 Expected Profit= +47.4% | +83.1% | +118.8% Possible Loss= -39.7% Estimated Gaintime= 1-2 months rendertoken.com
RShort
by TradingOn
RNDR/USDT is Building Momentum for Next Rally 💎 On the 1D timeframe, RNDR is sketching an optimistic scenario, suggesting a potential bullish surge. 💎 The MACD is tilting towards a bullish divergence, signaling a possible upward shift following the consolidation breakout. 💎 A retrospective glance reveals the price took a downturn after establishing equal highs. Moreover, the shift from demand to supply further intensified the bearish pace. 💎 There's a clear untouched supply and bearish territory. It seems likely that RNDR will target this area for equilibrium in the near future. However, if the price slips past the support zone, brace for a potential drop. 💎 In the dynamic realm of crypto, staying informed is essential. Keep an eye out for further insights and relish your trading adventure.
RLong
by MyCryptoParadise_Nathan
5
RNDR: Descending Triangle BreakoutTrade setup : Bearish breakout from Descending Triangle pattern, below $1.70 Triangle support level, which confirms downtrend with downside risk to $1.00. Pattern : Price was trading in a Descending Triangle pattern. Typically, a breakout will typically occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle. Trend : Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $1.70, which it broke, then $1.00. The nearest Resistance Zone is $2.50, then $2.90.
RLong
by altFINS
Render Token RNDRUSDT Price Analysis (12h)🌟 Greetings, fellow traders and investors! 📊💹 Let's dive into our detailed analysis of Render Token (RNDRUSDT)! Currently, RNDRUSDT is exhibiting a consolidation phase within two significant bearish structures: the Rising Wedge and the Head and Shoulders pattern. These patterns often indicate an impending downward movement in the coming weeks, making it a crucial time for traders to be attentive to potential market trends. 📉 Rising Wedge: This pattern is characterized by a contracting price range between upward sloping support and resistance lines. As the price continuously narrows within this wedge, it suggests that a breakout to the downside is likely on the horizon. 👤 Head and Shoulders: The formation of the Head and Shoulders pattern indicates a potential reversal in the price trend. It comprises a higher peak (head) flanked by two lower peaks (shoulders), with the neckline acting as a critical support level. A decisive breakdown below the neckline often signals a bearish move. 🎯 Price Targets: Based on our analysis, we have identified potential targets determined by the height of the Head and Shoulders pattern and the Rising Wedge. These targets are located within the support zone of $1.27 - $0.95. Traders should closely monitor price movements and be prepared to act accordingly to capitalize on potential profit opportunities during this phase. It's essential to exercise caution and apply robust risk management strategies while navigating these bearish structures. Always stay informed, monitor market conditions, and consider various indicators to support your trading decisions. As always, we'll keep a watchful eye on RNDRUSDT's developments and provide timely updates to guide your trading journey. Wishing you fruitful trades and successful market endeavors! 🚀📈✨
R
by Vestinda