🟢 $RENDER RANGE HOLD: Momentum Waiting to Expand to $2.40! 🚀
$RENDER is holding its range perfectly! After hitting the low, buyers quickly stepped in, keeping the price pinned within the $1.60 – 1.62 entry zone. The momentum is patiently waiting to expand.
The key is the 1.65 flip—a clean break above this will confirm the end of the consolidation and launch the next leg up!
📈 LONG TRADE LEVELS:
• Entry Zone: 1.60 to 1.62 (Buy the consolidation)
• Bullish Confirmation: Above 1.65
• Target 1 (TP1): 1.75
• Target 2 (TP2): 2.00 (Major Psychological Resistance)
• Target 3 (TP3 - Main Goal): 2.40
• Stop Loss (SL): 1.52 (Must protect the base structure!)
Range Accumulation
The current price action suggests accumulation is happening within the $1.60-$1.65 range.
The tight SL at 1.52 is crucial because a break below it signals a major structural failure. However, the long-term R:R is extremely attractive:
• Risk: Entry (\approx\$1.61) to SL (1.52) = 0.09 risk.
• Reward: Entry (\approx\$1.61) to T3 (2.40) = 0.79 reward.
• R:R Ratio: Approximately 8.7:1. This high R:R is what makes this setup exceptional.
The technical structure supports the expansion. Watch for the 1.65 breakout! Execute with discipline, and respect the 1.52 SL.
