RNDR likely to head to 4h support zone around 0.930
Updated
The short was expected from 4h resistance zone. However, we missed the ideal short entry at the start of S1 path as that was an expected retest of that resistance zone and provided an ideal short entry. But now S1 path is almost on completion. However, I believe there is still a short trade to be taken at the end of path L2. That may also extend to the resistance zone and if taken there can be the optimum entry. After that the price is expected to head to 4h support zone around 0.930.
Note
SO the path S2 completed and even went beyond our expectation of extending up to the resistance zone area. The momentum is strong on this move. Time to close the long and any short shall be taken only when the price loses this resistance zone.Note
The momentum was indeed strong on this move supported by the BTC upward move. And the price has managed to reach to the 4H resistance zone. I would expect a push back from there.I think a short is favorable here.
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