RNDRUSDT may aim for daily resistance around 2.27-2.29Story is similar here. The price touched the 4h support zone 4HS1 marked on the chart and bounced from there. Along with BTC push, this also got a chance to move higher. This one is probably clearing its way for daily resistance DR1 which is around 2.27-2.29. The 4h resistance is in the way which may hold the price for a while, but I can see it aiming for the daily resistance DR1.
RNDRUSD
RNDRUSDT Below Resistance LineIn the past few months, we witnessed a strong upward movement in rndr, supported by an upward trend line. However, this trend line, marked in red on the chart, was broken a few days ago, and the price fell below the trend line.
Currently, the price is testing this trend line again, and there is a possibility of a stop-hunt following this break. However, considering the overall downtrend in the market, my opinion is that the price will fall again with this retest. The risk-to-reward ratio for me in this trade is not suitable, and I don't see a suitable place to set a stop-loss.
RNDR broke its upward trendline and completed the pullback ..RNDR has broken its upward trend line and completed the pullback, and in my opinion, it can have a suitable fall from here, and for the right time to buy, you must be patient until it reaches the golden range.
RNDR, Render 2.6?What is RNDR?
RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out. Conceived in 2009 by OTOY, inc. CEO Jules Urbach and launched in 2017, RNDR held its first public token sale in October of that same year, followed by a private sale period lasting from January 2018 – May 2018, wherein a total of 117,843,239 RNDR were sold at a price of 1 RNDR = $0.25 USD equivalent of token. During the private sale period, early adopters were onboarded onto the RNDR Beta Testnet, where beta node operators and artists worked collaboratively with the RNDR team in building and testing the network, up until its public launch on April 27th 2020.
How does RNDR work
RNDR is an ERC-20 utility token used by artists on the network to exchange for GPU compute power from GPU providers (node operators). RNDR utilizes a combination manual and automatic proof of work system, or in this case proof of render, in order to verify all art has been successfully rendered prior to payment disbursal and art release. Utilizing the inherent security properties of the Ethereum blockchain, proprietary assets are hashed upon upload and sent to nodes piecemeal for rendering. All RNDR payments are stored in escrow during rendering, and are released to node operators upon manual verification by the commissioning artist of successful work. To prevent malicious actors in both user bases, all assets rendered on the network are watermarked until payment is successfully disbursed, upon which time un-watermarked renderings may be downloaded, and all payment is held in escrow until manually verified as being correctly rendered.
About RNDR
Backed by parent company OTOY, the RNDR team is based out of Los Angeles, with team members throughout the world. The RNDR advisory board boasts industry leaders such as Ari Emanuel (Co-Founder and Co-CEO, WME), JJ Abrams (Chairman and CEO, Bad Robot Productions) and Brendan Eich (Founder and CEO, Brave Software and BAT), who have all advised RNDR in various capacities in bridging the gap between creating a system that appeals to both cryptocurrency communities and Hollywood studio production pipelines.
RNDRUSDT likely to head up to 2.06This long is favorable here. It seems the price has been consolidating in the current range for long and it shall be ready to move upward. The target for the long trade should be the 4h resistance zone 4HR1 which is sitting around 2.06 area.
RNDRUSDT coming close to weekly supportI did expect it to come to weekly support but not so quick. It is still not there but is almost there in a day. I will buy some spot as planned. I think probability of this giving a good bounce from weekly is very high. If it continues to be so catastrophic then the next level to watch for is monthly support 1.36-1.46. But as I said, I think weekly support shall hold this falling red bar.
RNDRUSD short positionOn the chart we can see a rising wedge formation. Our strategy is enter a short position when the price retest the resistance line.
We can see an on-going distribution as there is a lower highs construction.
Stop loss: 2.957 USD
Target: 2.021 USD
Entry: 2.785 USD
RNDRUSDT at support, likely to head up to 2.31-2.32The price pushed substantially up today. However, in last few hours it has retraced significantly as well. I think the price has now come to a support level from where it has a higher probability of bounce and therefore a long opportunity is favored. The target for this long should be 2.31-2.32.
RNDRUSDT weekly support an preferable spot buy zoneI am not holding any spot RNDR tokens. I did not know about this one early enough. But I am planning to get some spot buy of this token when the price hits weekly support. Seems a bit far fetched by looking at the chart but its possible that it may revisit that weekly support zone. But I might grab some spot on the daily support zone as well to sell later. Seems like not a bad spot for getting some.
RNDRUSDT at daily support, likely to head to 2.40This one did come back where we were expecting it to. Now from here it may bounce. We can take a long from here for a few percent gain. The target should be 2.40 as that is the low time frame resistance for the time being.
RBDRUSDT heading daily resistance offering short opportunityHere are the new support and resistance levels for this pair. The price found support on daily support DS2 and moved up the daily support DS1. I see price heading towards daily resistance DR1 which will provide a short opportunity. I wait for the price to reach there and depending on the price action, will take the short. I will post the setup in case I take it.
RNDR good entry at 2.51D time frame
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RNDR creating a symmetrical triangle.
2.5 is a great entry to open long.
Target: 3.8
SL: 2.5
RNDRUSDT at 4h resistance and getting pushed downSo the resistance is doing its job. Though wanted to take a short trade from that resistance zone but could not as was not on screen. Anyways, now next logical support if this push back continues is the 2.63-2.64 zone as marked on the chart.
Just noticed that 2.68 zone can also act as a support and have marked that also on the chart. Not sure if that is good enough but expect some bounce there.
RNDR Render breaking out :) RNDR Render is breaking out now Impulse MACD line has just crossed the Signal line (bullish) some gains expected also trading above the MA
RNDRUSDT probably to head higher from hereThe last long trade did not work out and closed in loss when the support was lost. Taking this long trade again from here. I think the price will hold the previous low and thats why previous low is set as stop loss. Risk is limited so this long trade is favorable.
RNDRUSDT high time frame updateWe have talked about this monthly resistance in some of the previous trade setups. The resistance is doing its job till now and have kept the price controlled and currently trading just under it. The daily support under that resistance is holding the price and providing the bounce we see.
RNDRUSDT likely to head down o 2.54 from 4h resistanceAnyways, I decided to take this short trade. While redrawing the chart I noticed that the 4h resistance was not drawn correctly which explains a bit excessive divergence from the resistance zone earlier. Anyways, I have redrawn that 4h resistance appropriately now. So now the price is heading towards resistance to retest it from below so probability is favoring short here. But entry is a bit conservative so possible it wont get filled. First target is 2.547 but may also extend to 2.51.
RNDRUSDT trading around 4h resistance, likely to head to 2.55The price is at 4h resistance again. Well, it can break the resistance this time but still short is favorable here. I would bet for a short here with a small position size. Target is 2.55.
RNDRUSDT on hourly support and may bounce to 2.56-2.59The price retraced from the 4h resistance as marked on the chart as the final target of the last long trade. Now the price is again at the hourly support and expect the price to bounce here . The bounce is actually already taking place while I am writing this. Target marked on the chart for this long trade.
RNDRUSDT at daily support, likely to head towards 2.54 and 2.60The price has entered into the daily support zone. This provides a trade opportunity favoring a long. The price may breach the level briefly but I think it is going to bounce enough from here to provide the long trade opportunity as marked on the chart towards 2.54 and 2.60.
RNDRUSDT likely head down towards daily support around 2.45Since the price has broken down the previous 4h support conclusively and trading below it, I would expect it to aim towards daily support. The daily support zone lies around 2.45-2.46. However, it may breach lower towards 2.36 as well. But anyway, that would be an opportunity for a long trade.
Render Token (RNDR) forming bullish Gartley for upto 14% pumpHi dear friends, hope you are well and welcome to the new trade setup of Render Token (RNDR) with US Dollar pair.
Our last successful trade of RNDR was as below:
Now on a 4-hr time frame, RNDR has almost formed a bullish Gartley move for the next bullish reversal move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
RNDRUSDT showing weakness against BTCUSDTAs mentioned before, this one is showing some weakness and not even matching up to BTC move. Anyways, the price is currently ranging between the 4h support and 4h resistance zones. There were several touch to the support and price bounced to the resistance zone and pushed back from there. The system says to short it now from the resistance zone to the support zone. But I will stick to the long for now. So lets see if price comes back towards support one more time or breaks to the upside. Probably I will look for a long around 2.666.
