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Market Analysis: RNDr Coin Deep Dive🔍 let's delve into the RNDR project. RNDR, short for Render Token, is a project aimed at decentralizing GPU-based rendering solutions. It leverages the power of blockchain technology to connect users who need rendering work done with GPU owners who have spare processing power. This innovative approach aims to create a more efficient and scalable rendering ecosystem. 📉 As seen on the chart, RNDR has experienced a sharp decline and is approaching the support level at 6.999. This support is crucial as it is marked by a primary support line in blue, which holds significant importance for the price action. ⚠️ The RSI is currently at 29.06, which is in the oversold territory. This suggests potential for a short-term bounce, but the overall bearish trend remains strong. The sell volume has been increasing, indicating that the bearish momentum is still intact. 🔻 For a short position, consider entering if the price breaks below the key support level at 6.999. This would confirm the continuation of the bearish trend. The increasing sell volume supports the potential for further declines. It's recommended to set a stop-loss order above the recent high around 7.141 to manage risk. 📉 The target for the short position would be the next support level at 6.237. Monitoring the volume is crucial; if sell volume continues to rise, it strengthens the bearish outlook. 📈 A long position might be considered if the price shows signs of a reversal from the oversold RSI condition. If RNDR bounces off the support at 6.999 and breaks above the descending trendline, confirmed by a break above the trigger level at around 7.300, it could indicate the start of a bullish reversal. 🛠️ Wait for the price to break above 7.300 with increased buy volume before entering a long position. The next target for a long position would be the resistance level at 8.397. It's important to set a stop-loss order below the recent low around 6.870 to manage risk. 📝 In conclusion, RNDR is exhibiting strong bearish signals. For short positions, wait for a break below 6.999 with high sell volume. For long positions, look for a bounce off this support and a break above the trendline trigger at 7.300 with increased buy volume. Always monitor RSI and volume indicators closely to confirm momentum shifts. Manage risk appropriately, especially in such volatile market conditions.
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by itsparham96
2
Plan your trade for 6/18/24 - SPY researchHere is another video to help you prepare for the next 2+ weeks of trading in the US markets. Using my specialized SPY Cycle Patterns and technical analysis, I still see the markets consolidating in a melt-up type of trending over the next 2+ weeks before moving into a strong rally phase near late June/early July. You can see how my SPY cycle patterns help into understand opportunities and when to prepare for more aggressive trading. Today is a Harami-Inside pattern - meaning I will be mostly sitting on the sidelines today. Maybe targeting one or two quick trades. But tomorrow and the rest of this/next week look very solid for more moderate/aggressive trading in bigger price trends. And, I'm going to start preparing for the RALLY, RALLY, RALLY phase near July 1, 2024. Learn how my specialized research can help you. Learn the Mechanics of Trading. Let's go get'em.
AMEX:SPYLong
by BradMatheny
HDFC BANK RE-ENTRY LEVELS FOR SWING TRADING 18/06/2024STOCKS FOR SWING TRADING (SHORT TERM) 18/06/2024 NO.8 #HDFCBANK Re-Entry Price - 1600 (CMP 1596) SL - 1460 TARGET - 1750, 1900, 2000 (10 - 20 - 25%) @jagadheeshjp Disclaimer : All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
NSE:HDFCBANKLong
by Jagadheesh_JP
UNFI ANALYSIS🚀#UNFI Analysis : What Next ??💲💲 ✅As we can see that there was a formation of "DESCENDING CHANNEL PATTERN" in #UNFI and given a breakout. We are expecting around 30-35% bullish move after a good breakout📈 🔰Current Price: $4.233 🎯 Target Price:   $5.739 ⚡️What to do ? 👀Keep an eye on #UNFI price action. We can trade according to the chart and make some profits. Stay tuned for further analysis and stay updated with market sentiments and news.⚡️⚡️ #UNFI  #Cryptocurrency #TechnicalAnalysis  #DYOR
ULong
by ZEUS_Market_Alerts
Market Analysis:ACH Coin Breakdown🔍 Let's dive into today's analysis. The market shows a bearish momentum, and the coin we are analyzing today has the potential for a sharp drop in the 4-hour timeframe. Bitcoin Analysis 📉 Starting with Bitcoin in the 1-hour timeframe, the support level discussed yesterday has been broken. The price has now reached the trigger at 65197 and may start correcting and resting. 📉 If this trigger is broken, we can move towards the 64429 support, which could be the next target. 📈 Breaking 25.23 in the RSI could bring even more momentum into the market, potentially targeting levels like 63356. ⚠️ A crucial point to note is the significantly increasing selling volume, indicating the strength of the downward trend. 🔻 Overall, I consider Bitcoin's downtrend more likely than an uptrend and will be looking for short positions in the market today. ACH Coin Analysis 🔍 Now, let's look at the ACH project. I haven't researched it extensively, but I know it's a bridge for converting fiat currencies to crypto. If you'd like a comprehensive analysis of this project, let me know in the comments, and I'll do that for you. ACH Coin Chart Analysis 📉 As seen on the chart, ACH has experienced a very sharp decline and is moving towards the support at 0.2168. This support is significant as it aligns with the 0.786 Fibonacci level of the 1-day timeframe wave and the 1 fibo extension point, making this area even stronger. ⚠️ However, never underestimate the power of momentum. If the RSI stabilizes below 24.29, the bearish momentum will increase, and we might see lower prices like 0.02034. Therefore, despite the significant drop without a correction, I recommend opening a position with low risk and small volume if the RSI breaks 24.29. 📉 The volume of ACH is also increasing, indicating the strength of the bearish momentum. Daily Timeframe Quick Check 📅 Lastly, let's quickly check the daily timeframe. As shown, the price is in the 0.707 to 0.786 Fibonacci range. If this range breaks to the downside, the price could even correct to the 0.01761 area. 📝 In conclusion, both Bitcoin and ACH coin are exhibiting strong bearish signals. Bitcoin's support levels and RSI indicators suggest potential further declines, while ACH coin's sharp drop and increasing volume indicate a strong bearish momentum. Caution is advised, and for those looking to open positions, it's crucial to monitor RSI levels and volume indicators closely. Always manage risk appropriately, especially in volatile markets like these. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
ETH/BTC REVERSAL?Could we finally see a breakout of the downtrend channel now that ETHBTC has bounced off the range bottom? Bullish scenario: If we see a breakout of the trend channel and new HH & HL then ETH could finally be ready to move up after the approval of the ETH ETF's. Bearish scenario: If the range low is lost and price is excepted at those levels then the downtrend continues... I do think the general market did not expect an ETF approval so soon and so the inflows we saw for BTC were just not ready to capitalise on the ETF.
by ProR35
GBPUSD Retest before continuing to the downsideI anticipate price will retest (to at least) the recent ascending channel lower band breakout, before continuing to the downside. --- At Forexity: my trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations. --- #scalping #intraday #daytrading
by Forexity
Coeur Mining Inc. (CDE) - Bullish Rectangle Continuation PatternAnalysis: Chart Pattern: Coeur Mining Inc. (CDE) is currently forming a Bullish Rectangle Continuation pattern, indicating potential for an upward breakout. Support and Resistance: The stock is consolidating between defined support and resistance levels. Breakout Potential: A breakout above the resistance level could lead to a significant upward movement. Target Price: The target price can be estimated based on the height of the rectangle. Stop-Loss: Set a stop-loss just below the support level to manage risk. Fundamental Overview: Revenue (TTM): $846.97M Net Income: -$108.14M Total Debt: $593.83M Current Ratio: 1.00 Conclusion: The Bullish Rectangle Continuation pattern suggests a potential upward breakout, making Coeur Mining Inc. a promising candidate for short-term gains. However, investors should consider the company's current financial challenges and set appropriate risk management measures. Investment Note: Trading stocks inherently involves risks. Carefully consider your financial situation and investment goals before making decisions.
NYSE:CDELong
by rebenga93