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In this analysis, I will be examining the RENDER coin, a project involved in Artificial Intelligence and Real-World Assets (RWA).
📅 Daily Timeframe: Descending Triangle
In the daily timeframe, after breaking the resistance at 6.75 and reaching up to 11.243, we observe a descending triangle forming between these two areas. The price has touched the support at 6.75 multiple times.
🔍 Additionally, the 6.75 area is also significant in terms of Fibonacci levels, lying between the 0.5 and 0.618 zones. The SMA99 is also reaching the candles in this area, turning it into a very strong Potential Reversal Zone (PRZ).
📊 Market volume within the triangle is gradually decreasing, and now that the price has entered the final third of the triangle, the sensitivity in each candle is increasing. If the triangle breaks in any direction, the volume should also increase; otherwise, the likelihood of a false breakout will rise.
🔽 If the price breaks down and passes below 6.75, the next major support will be at 4.18. A breakdown of the 36.45 level in the RSI would support a bearish scenario.
🧩 For long positions, we first need to wait for the descending trendline of the triangle to break. You can then open a position upon the breakout of this trendline trigger. The main trigger will be at 11.243. However, the range from 11.243 to 13.267 is very strong and, being at the ATH, turns into a significant supply zone.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I will be examining the RENDER coin, a project involved in Artificial Intelligence and Real-World Assets (RWA).
📅 Daily Timeframe: Descending Triangle
In the daily timeframe, after breaking the resistance at 6.75 and reaching up to 11.243, we observe a descending triangle forming between these two areas. The price has touched the support at 6.75 multiple times.
🔍 Additionally, the 6.75 area is also significant in terms of Fibonacci levels, lying between the 0.5 and 0.618 zones. The SMA99 is also reaching the candles in this area, turning it into a very strong Potential Reversal Zone (PRZ).
📊 Market volume within the triangle is gradually decreasing, and now that the price has entered the final third of the triangle, the sensitivity in each candle is increasing. If the triangle breaks in any direction, the volume should also increase; otherwise, the likelihood of a false breakout will rise.
🔽 If the price breaks down and passes below 6.75, the next major support will be at 4.18. A breakdown of the 36.45 level in the RSI would support a bearish scenario.
🧩 For long positions, we first need to wait for the descending trendline of the triangle to break. You can then open a position upon the breakout of this trendline trigger. The main trigger will be at 11.243. However, the range from 11.243 to 13.267 is very strong and, being at the ATH, turns into a significant supply zone.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.