$RENDER /USDT (Perp) โ 1H Technical Outlook ๐
RENDER is showing short-term weakness after a sharp rejection from the 2.45โ2.46 area, followed by a strong bearish impulse.
Chart Insights:
Price is trading near 2.23, down ~8.5%, signaling continued downside pressure.
Clear break below MA(25) & MA(99) โ bearish trend still intact.
The drop stalled near 2.18, where buyers stepped in, forming a short-term base.
Current consolidation above 2.20 suggests a possible relief bounce, but trend reversal is not confirmed yet.
Key Levels:
Support: 2.18 โ critical level; loss of this opens further downside.
Immediate Resistance: 2.29 โ 2.32 (MA25 zone).
Major Resistance: 2.39 โ 2.45.
Bias & Scenarios:
๐ด Bearish below 2.30
๐ก Minor bounce possible, but price must reclaim 2.35+ with volume to shift momentum.
Break below 2.18 could trigger another sell-off.
Trading Note:
Shorts favored near resistance.
Longs only make sense after a clean reclaim above key MAs.
โ ๏ธ Trade with proper risk management โ volatility remains elevated.
#RENDER #CryptoTA #BinanceSquare #Altcoins #perpetuals $RENDER
