RNDR: lower highs pressing the $1.45 floorThe Macro Picture 🗺️
RNDR topped out in a June spike to $2.43 and has been in a clean descending structure ever since — a steady sequence of lower highs as every bounce gets sold into. Price has now ground down to the $1.45 support shelf, coiling at the $1.53 equilibrium with RSI pinned in the low-40s beneath its moving average. There's no sign of a momentum shift yet: the trend is intact, the bounces are shallow, and the path of least resistance continues to point lower until buyers can reclaim broken structure overhead.
The Setup ⚙️
The Rejection: Every rally has stalled well beneath the $1.80 local decision (red dashed), the level that flipped from support to resistance on the way down. As long as price stays capped under it, sellers remain in control.
The Floor: The $1.45 macro support (solid green) stacks under the $1.48 local low to form the last high-confluence shelf holding price up. This is the battleground — a break here triggers sell stops toward fresh lows, while a firm defense is the only thing that sets up a base.
The Reaction: RSI holding below its midline through the entire descent confirms sellers still have the upper hand, favoring a test of the floor over a trend reversal.
The Roadmap: Primary target sits at $1.45 — the red projection points toward a retest of the macro floor as lower highs compress price into support. Invalidation: a sustained 1D close back above $1.80 would flip the structure and open the path toward the $2.10 macro ceiling.
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