Current state: Bearish (Confirmation of rejection at resistance)
💥 Take Profit Objectives (TP)
▫️TP1: $1.70 (Immediate psychological support)
▫️TP2: $1.62 (Fibonacci level 0.618)
▫️TP3: $1.55 (Lower liquidity zone)
🎯 Operate Here 👇
🔍 Market Comment
⚪ The price of $RENDER has breached the previous support of $1.80, validating the thesis of weakness after the failure to break $1.91.
⚪ Currently, the asset is trading at $1.76, situated below the 20-period moving average on the 4H timeframe, which increases the probability of seeking the MA99 (99-period Moving Average) that acts as the next important liquidity magnet.
⚪ Indicators: The RSI is at 38 points, showing additional room for a decline before entering extreme oversold territory.
⚪ Volume: An increase in selling volume is observed in the last candles, confirming the bears' interest in pushing the price to lower levels.
Note: Volatility in the AI sector remains high; strict risk management is recommended.
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