RENDER Update January 21: Dead Cat Bounce or Beginning of Reversal?

The price of RENDER briefly touched $1.933 before bouncing to ~$1.945 (+0.6% from low). Is this the beginning of a recovery or just a pullback before going down again?

🧠 Technical Facts:

➡️Bounce Trigger: Oversold (RSI 30) + positive funding rate (0.0014%) → small short squeeze.

➡️Structure: Still Lower High ($2.458) & Lower Low ($1.933) – not broken yet.

➡️Momentum: 1H RSI (45.3) vs 4H RSI (34.3) – weak bounce in small TF, major trend still down.

➡️Derivatives: Positive funding + large negative CVD (-161M) → conflict; institutional selling pressure vs potential squeeze.

🎯 Crucial Levels:

🔺Resistance (Sell Zone): $1.963 – $1.982 (former support → resistance + EMA)

🔻Support (Target): $1.933 → $1.863

⚡Invalidation: Break & hold > $2.028 (change bias)

💡 Simple Strategy:

1️⃣DO NOT FOMO BUY at $1.945. Bounce is too small and not confirmed yet.

2️⃣WAIT for the price to rise to the zone of $1.963 – $1.982.

3️⃣CONFIRMATION: Look for signs of rejection (red candle, high volume) in that zone to SHORT.

4️⃣Target: Return to $1.933 → $1.863.

⏳ Timeline: Bounce may continue for 6–12 hours. Reaction at $1.963 will determine direction for the next 1–2 days.

✅ Takeaway: This bounce is not a buy signal, but a better sell opportunity. Positive news (CES, projection $200) does not push the price → bearish signal. Be patient & wait for confirmation.

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👉 Current Condition: NO TRADE. Wait for setup at $1.963–$1.982.