The 1 DAY timeframe on $RENDER is my favorite...
* It just bounced hard from the 1.48-1.50 zone.
* It recovered the daily EMA 7.
* RSI came out of the weak zone and is climbing close to 55.
* The latest candlesticks show recovery after a significant drop.
What I see is a clear attempt at a short-term trend reversal.
Problem: it's still below the daily EMA 25 (around 1.81) and EMA 99 (around 1.83). That area is a very important resistance.
4H Timeframe
This is the most bullish at the moment.
* EMA 7 > EMA 25.
* Price above both moving averages.
* RSI 65-70, strong but not excessively overbought.
* The rise from 1.60 to 1.81 was accompanied by volume.
The most important:
After hitting 1.816, there wasn't a strong drop. It's consolidating above 1.74-1.75.
That usually indicates strength.
Levels to watch
Strong support:
* 1.74
* 1.70
* 1.68
As long as it stays above those zones, the bullish scenario remains intact.
Resistances:
* 1.81 (recent high)
* 1.83
* 1.90
If it breaks 1.81-1.83 with volume, then I would start looking at:
* 1.90
* 2.00
* 2.10
WE'RE HEADING UP. I honestly expect it to hit $5 in not too long... (as long as BTC keeps up and nothing weird happens)
#CryptoPatience
* It just bounced hard from the 1.48-1.50 zone.
* It recovered the daily EMA 7.
* RSI came out of the weak zone and is climbing close to 55.
* The latest candlesticks show recovery after a significant drop.
What I see is a clear attempt at a short-term trend reversal.
Problem: it's still below the daily EMA 25 (around 1.81) and EMA 99 (around 1.83). That area is a very important resistance.
4H Timeframe
This is the most bullish at the moment.
* EMA 7 > EMA 25.
* Price above both moving averages.
* RSI 65-70, strong but not excessively overbought.
* The rise from 1.60 to 1.81 was accompanied by volume.
The most important:
After hitting 1.816, there wasn't a strong drop. It's consolidating above 1.74-1.75.
That usually indicates strength.
Levels to watch
Strong support:
* 1.74
* 1.70
* 1.68
As long as it stays above those zones, the bullish scenario remains intact.
Resistances:
* 1.81 (recent high)
* 1.83
* 1.90
If it breaks 1.81-1.83 with volume, then I would start looking at:
* 1.90
* 2.00
* 2.10
WE'RE HEADING UP. I honestly expect it to hit $5 in not too long... (as long as BTC keeps up and nothing weird happens)
#CryptoPatience
