RNDR heading towards 5 dollar zoneThe price has been rallying upward since it bounced from the monthly support. This has been a very significant move. THere was a weekly resistance on the way which just made the price pause a bit but eventually it went further up. Now the price is aiming for the next resistance which is a weekly resistance labeled as WR1 on the chart. But such resistances do not carry significant value as they are very old one and as it gets older, its effect weakens. And therefore, it should not be attributed a lot of importance, however, it can definitely provide some hints about the price direction by looking at the price action when the price hits this area. Anyways, long story short, I think the price is definitely going to aim for that resistance irrespective of what it does after that.
Rndrusdtanalysis
RNDR/USDT Strong Bullish Movement. Ready to continue upward ???💎 RNDR has indeed captured the market's attention with its recent breakout above a critical supply zone, signaling the potential for further upward momentum. The asset is currently undergoing a retest at the $2.2 level, which previously acted as a supply area. Should RNDR successfully rebound from this demand zone, we could anticipate a robust upward trajectory, probability the price toward the next supply target.
💎 Conversely, should RNDR fail to demonstrate strength at the $2.2 demand zone during the retest and instead breach below it, the scenario could turn bearish. This would potentially lead RNDR to seek support at a lower demand level of around $1.940.
💎 It is crucial for RNDR to find buyers and rally at this juncture to maintain the uptrend and revisit the $2.2 mark. A failure to hold the $1.940 level could intensify bearish pressures, possibly driving RNDR back towards a more substantial demand zone further down.
Pollback for Continue bull-trend❤️❤️Thanks for boosting 🚀 and supporting us!
📈break resistance and start bull-trend by big candle.
📊 (Buy) : 2.886$
🔴 Stop Loss : 2.717$
🎯 Take Profit : 3.199 -3.434$
🔗 For more communication with us, send a message in TradingView.
RNDR target 5.512h time frame
-
RNDR is creating a bottom structure under 3, and there is a first pumping wave started from 0.4 to 2.99 which verify the resistance of 3 again. However, RNDR got support on 0.382 Fibonacci Projection and keep pumping, this is a good bullish sign. Through Fib, the first target is around 3.7~4 and next is 5.5, then we can set up a trading plan.
TP: 3.7~4 / 5.5
SL: 1.67150
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.
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.
RNDRUSDT at monthly support and the support likely to holdThe price has hit the monthly support zone. It has bounced from there but a revisit possibility to that zone cannnot be denied. However, this is a high time frame support and shall hold on monthly basis and therefore offers long opportunity. The first resistance that would be faced by the price in case of upward move is the weekly resistance sitting around 1.63-1.72.
RNDRUSDT SHORT⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
Don't forget to like and comment
RNDRUSDT long idea from LTFSThe price hit the 4h resistance 4HR1 and git rejected from there. It is currently pulling back. The price may hit the low time frame support LTFS and bounce from there. A long trade is favorable from there towards the 4h resistance zone. The target of this trade should be 2.05-2.06.
RNDRUSDT at daily support, likely to head to 2.07The price is trading close to daily support. It was rejected from the daily resistance and it immediately headed down. I expect the price to bounce from daily support DS1 and therefore a long is favorable from this zone. The price may dip further into the support zone. Therefore, as always, I will add to the position as price moves into that zone.
RNDRUSDT on daily resistance, likely to pullback to 2.068The price hit the daily resistance DR1 and currently being pushed down. A short trade is favored by the probability here. The price is likely heading towards the of the daily support zone sitting around 2.02-2.06. The target of the trade should be around 2.068. Other relevant resistance and support levels are also marked on the chart. In general on larger time frame, I think the price is heading for the weekly resistance WR1 around 2.6-2.75. But for this post, lets focus on this short trade setup.
Render RNDR price prepares a riddle, whoever reads it will guessAn interesting situation emerges on the RNDRUSDT chart
On the one hand, the chart shows a seemingly obvious Head and Shoulders pattern with a target of $1.10.
However, for this pattern to be activated, the RNDR price needs to consolidate below $1.90, or even better (for reliable development of the pattern, of course), it needs to fall to $1.50 and then fail to rise above $1.90.
On the other hand, something deep down tells us that there is absolutely nothing stopping trading bots from drawing a "standard book pattern". So that during the formation of the pattern, without waiting for confirmation (which is very important), many shorts positions were taken.
And then, with upward momentum, and on the triggering of stop orders on the short position, the "rocket" called Render can start to take off.
And this rocket needs a lot of fuel, because there is a strong liquidity zone above the current price of RNDR, which will be difficult to break through.
In general, we have written our thoughts, drawn arrows on the chart, and now the question is for you, which RNDRUSDT price will be faster: $6 or $1?
Write your thoughts in the comments section.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
RNDRUSDT at 4h support, likely to head up to 2.04-2.06The price is once again at the 4h support zone 4HS1 marked on the chart. Once again the long is favorable from here and the price should bounce here towards the daily resistance DR1. Lets take a long here towards 2.04-2.06 target.
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.
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.
RNDRUSDT at 4h support, likely to head towards 4h resistanceThe price has hit the 4h support zone 4HS1 again after getting rejected from 4h resistance zone 4HR1. I think this offers an opportunity for a long trade. May cut the trade around 2.07 depending on the price action.
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.
RNDRUSDT at weekly support, long favorable from this levelSo finally the price has come to the weekly support which was long anticipated by us. As planned I have grabbed spot here. Will add to that if it dips into the support zone. Let see where we go from here.
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.
RNDRUSDT likely to head down for daily support for a bounceThis one seems to be heading for the daily support DS1. I would prefer a long from that zone. Therefore, I will remain patient for a trade with this one. If it does not visit the DS1 zone and moves beyond 2.45, that would also signal to take long trade from other levels. So lets just be patient for a while. I believe the trade opportunity will come to us. The planned trade setup is shown but may differ from the actual trade setup. I will post the actual trade setup when I take it.
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.
