#RENDER / Ready to go up#RENDER
The price is moving in a descending channel on the 12-hour frame and sticking to it well
We have a bounce from the lower limit of the descending channel, this support is at a price of 4.20
We have a downtrend, the RSI indicator is about to break, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 5.57
First target 6.43
Second target 7.31
Third target 8.18
Renderanalysis
RENDER SWING LONG IDEA - RENDER COIN RENDER is one of the leading AI and DePIN projects in the crypto market. During the 2023-2024 altcoin bull cycle, this coin achieved a remarkable 10x return, so I recommend keeping a close watch on it.
Technical Analysis: The price recently hit the monthly demand and faced a rejection there during the August 5th dip. This rejection sparked an immediate bullish movement and shifted the weekly structure to bullish. The price also initially pulled back from a bearish trendline responsible for the downtrend since March 2024.
Recently, the price broke through this bearish trendline with strong momentum, highlighting the strength of the trend, and I’m interested in joining the trade after this breakout. My targets are set on the purple levels, and I expect potential upside in the coming months.
SL: $3.98
TP1: $6.80
TP2: $11.90
TP3: $13.80
#RENDE(SPOT) entry range( 4.45- 5.45) T.(10.299) SL(4.439)BINANCE:RENDERUSDT
entry range ( 4.45- 5.45)
Target (10.299)
SL .1D close below (4.439)
*** collect the coin slowly in the entry range ***
*** No FOMO - No Rush , it is a long journey ***
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RENDER target 7.444h time frame
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Entry: $4.8
TP: $7.44
SL: $4.11
RR: 3.74
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(1) Potential rounding bottom on 1h
(2) Getting support twice at Fib projection 0.382
(3) Depend on time and space analysis, it might go over $7 before October
(4) Fib projection 1.13~1.272 is the target range around $7~$7.45
(5) Stop loss once going below $4.11