Four days ago, the daily trading volume of $RENDER was still hovering around $20 million, with the price grinding along between $1.25 and $1.28 for two weeks. Starting on August 20, volume suddenly expanded to $70 million, and the price surged up to $1.63. Then came yesterday’s -8.23% bearish candle, which ate up most of the breakout gains from the prior two days. The chart is in a very typical spot: the first pullback after a volume-backed breakout.
A week +15.26% isn’t false, but the 30-day -1.91% is a reminder that this is only the first meaningful act of resistance after a year-long decline—still a long way from a trend reversal. The surge in volume clearly indicates money flowing in; what I also care about is that during the rally, it didn’t crash back to the original level. There are still buyers stepping in around $1.40. So I treat $1.38–$1.40 as the anchor for this move: as long as the pullback doesn’t break, the breakout remains valid. If it breaks below $1.35, then everything I just said is fully withdrawn.
The truly overlooked risk is above: it’s still -89.33% away from the ATH, meaning every price level above this area is stacked with trapped positions. The sharper the rebound, the heavier the pressure to unload when those positions try to get out. With the current daily volume of $69.43M, it’s still far from enough to digest those shares.
The biggest disagreement right now is this: $1.40 really is the starting point of this cycle, but nobody knows whether the lots waiting at the bottom will treat this push higher as a new beginning—or whether it will be the only calm opportunity to exit.
A week +15.26% isn’t false, but the 30-day -1.91% is a reminder that this is only the first meaningful act of resistance after a year-long decline—still a long way from a trend reversal. The surge in volume clearly indicates money flowing in; what I also care about is that during the rally, it didn’t crash back to the original level. There are still buyers stepping in around $1.40. So I treat $1.38–$1.40 as the anchor for this move: as long as the pullback doesn’t break, the breakout remains valid. If it breaks below $1.35, then everything I just said is fully withdrawn.
The truly overlooked risk is above: it’s still -89.33% away from the ATH, meaning every price level above this area is stacked with trapped positions. The sharper the rebound, the heavier the pressure to unload when those positions try to get out. With the current daily volume of $69.43M, it’s still far from enough to digest those shares.
The biggest disagreement right now is this: $1.40 really is the starting point of this cycle, but nobody knows whether the lots waiting at the bottom will treat this push higher as a new beginning—or whether it will be the only calm opportunity to exit.