"RNDR Coin Analysis: Navigating the Last Support Stronghold"💹 Let's dive in and analyze the RNDR crypto coin, update our previous analysis, and check new triggers together.
🛡️ Weekly Time Frame Analysis:
In the weekly time frame, RDNT is one of those coins that moved alongside Bitcoin, similar to Solana and INJ. We are currently in a bullish trend and have surpassed the all-time high (ATH).
⏳ After reaching the resistance at 13.352 and correcting down to 7.026, RDNT moved back up. The volume decreased during the correction, and as we moved upward again, the volume remained low. The previous weekly candle closed with significant seller pressure and appropriate volume.
📅 Daily Time Frame Insights:
In the daily time frame, given our higher time frame analysis indicating a lower high, we expected a possible drop. RDNT has been ranging for several days and is fluctuating around the support level of 9.928.
⏰ Four-Hour Time Frame Details:
In the four-hour time frame, we have made numerous contacts with the support level at 9.928. Each contact could weaken this support, potentially leading to its loss. However, if this trend continues and sellers fail to break this support, buyers might step in and push the price away from this level.
🔄 Previous Analysis Recap:
Before discussing the triggers, let's review our previous analysis. We noted that losing the significant daily support at 10.224 could result in a sharp decline, offering a short position opportunity down to the lower support levels of 8.081 and 6.99.
📊 Trigger Points for Trading:
📉 Short Position Trigger:
Our short position trigger is clear. After breaking the 9.928 support line, we can open our short position. Given the frequent contacts at this support, we can set our stop-sell orders now, anticipating a sharp move.
📈 Long Position Trigger:
For a long position, it's better to be patient until we reach the box ceiling at 11.603. However, if you want to accompany this coin more riskily, you can take a long position up to 11.603 after an increase in bullish candle volume and breaking the trigger line at 10.324.
🔍 Fixed Range Volume Profile:
Regarding the Fixed Range Volume Profile indicator, my usage involves not opening positions when there's high volume or entering a space with significant volume. However, I ensure to act on volume breakouts, like at 9.928, where volume significantly decreases after this level.
💡 Conclusion and Recommendations:
Currently, it's advisable to be patient before buying this coin. If a new entry point emerges, I will update the analysis. Meanwhile, review the project's fundamentals as it has created an exciting environment, which is one of the reasons for its sharp price growth.
🔻 Key Support Levels:
8.724 , 7.672 , 7.026
🔺 Key Resistance Levels:
11.603 , 13.352
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.