Here is my RenderNetwork TA for you dearCrypto Nation😎🤘
RNDR got rejected at the POC + FIB 78.6%
bullish scenario🐂
💠break this resistance zone
💠chase last ATH
💠reach TP at FIB 127.2% at $16
🟰that market cap would be 0.83% of current Bitcoin market cap
bearish scenario🐻
💠deep correction to the final Bull Support Box
💠getting dark if we lose that...
The bear market bottom for Render Token was hit mid-June of the year 2022, more than a year and a half ago... The rest is pure is growth, absolute bullishness.
The chart here, RNDRUSD, is dominated by bullish signals and we have a constellation of factors pointing toward higher prices.
Let's just name a few for entertainment, quickly:
1) Bullish MACD, strong...
Render and alot of alts looking toppy here but with serious upside potential should Legacy Hold.
Look to Spy for Signal.
Long Term Bullish
Scalpers Short.
My sole focus is to reenter the market at the 1.50s level when I receive the right signal to initiate the trade during its downward movement.
Could the price potentially surge higher? Affirmative.
Does this potential rise in price concern me? Negative.
Am I clear on my desired entry point and the reasons behind it? Absolutely.
Render Token has been steadily rising since the August 28th contact on the HL trendline but more importantly the 1W MA50, which held for the second time since the week of March 6th 2023. The 1W technical outlook is neutral (RSI = 53.781, MACD = 0.060, ADX = 33.069) meaning that there is significant upside potential. The Bullish Cross that is about to be formed on...
A close above the falling wedge has a 1.64 price target. This would also be a close above the 50ma, and a breakout of the downtrend. Little bit of a bullish divergence playing out on RSI too
Render Token (RNDRUSD) is on the 3rd straight green 1D candle, having the best bullish sequence since June 21. The pattern remains a 3-month Channel Down but for the first time this is being executed from oversold 1D RSI levels as well as almost testing the 1W MA50 (red trend-line) for the first time since January 23.
The formation of a 1D Death Cross though,...
I know that predicting an Alt coins movement doesn’t always pan out, but here it goes anyway.
Renders movement from 2 to 3 rose above the 2.618 and its retracement back to 4 is almost textbook. I believe the 5 will come in above 4.618 or $4.59.
The Mayfair POC and Footprints indicators (along with Stochastic indicator) help me with my assumption.
Not an investment recommendation. This chart was made for personal study and personal use only. If you liked the idea, please like it. If not, write why. In my humble opinion, the price will go down.
Invalidation - Cross above 2.2 (A Deviation)
Confirmation - Rejected 2.1 and its not a deviation
Target 1: 1.62
Target 2 : 0.9
We have been ranging for 91 Days, price didnt make a new high , but instead ranging.
if thats is not Sign of Weakness, idk what is it.
Anyway during this period of time, this is my plan
1. Small short position to avoid bearish bias...
Render
Its overpriced ,maybe 10X, it has plenty of competitors, but its done 500% in 5 mths.
Obviously the leader of the Gender Blender pack.
Get Some. cheaper is my Financial Advice.
