$RENDER Recently saw a major long liquidation of $1.22K at a price of $7.46. This means that many traders who were holding long positions were forced to close them, likely due to price movement against their positions. This kind of market action can often indicate a potential shift in the trend or significant volatility in the near term.

What’s Next for $RENDER.

After a liquidation, the market often reacts in one of two ways.

1. Reversal to a new trend The price might move in the opposite direction, making the liquidation a temporary price dip.

2. Consolidation or ranging market The price could remain stable for some time before making a strong move in either direction.

Buy Zone.

For a buy zone, we should look for a strong support level. Based on the recent price action, a good entry point could be near $7.20 - $7.30. This zone offers a possible bounce as it aligns with recent price action and potential support from previous price tests.

Target Levels.

For target levels, we will aim at key resistance areas where price might face difficulty breaking through.

First target. $8.00 This is a conservative short term target, where the price might face resistance.

Second Target. $8.50 If the momentum picks up, this could be a secondary level to consider for profit-taking.

Stop Loss.

To protect your position, it’s important to set a stop loss.

Stop Loss. $6.90 This is a reasonable level just below the buy zone. If the price drops below this level, it could signal further downside, and it’s better to exit to limit losses.

Summary.

Buy Zone: $7.20 - $7.30

First Target: $8.00

Second Target: $8.50

Stop Loss: $6.90

Important Note. Always consider market volatility and keep an eye on overall trends. Liquidations can create significant price swings, so stay alert and manage risk accordingly.

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