RENDER/USDT Chart Analysis

1. Current Situation

• Current price: 7,987, down -8.57% on the day.

• The chart shows a significant correction after reaching the recent high at 11,900.

• Low in the last 24h: 7,647, which is close to relevant supports.

2. Technical Structure

• Primary Trend: Still bullish, as the price remains above the 99 SMA at 6,480, a long-term average.

• Current Correction: The price is losing the short-term moving averages (7 SMA and 25 SMA), which suggests profit taking and a possible entry into support regions.

3. Support and Resistance

• Main Support:

• 7.50 - 7.60 region (close to the recent low and support line on the chart).

• 6.50 - 6.60: Aligned with the MM(99), it is an important support in case of a deeper correction.

• Resistance:

• 8.43: Short-term moving average (MM(7)). If the price breaks this region, it may signal a resumption of the rise.

• 9.00: Intermediate resistance.

• 11.90: Recent high and main target in case of recovery.

4. Volume

• Selling volume increased during the correction, indicating dominant selling pressure at the moment. For the price to recover, it will be necessary to observe an increase in buying volume in the support regions.

5. Entry Scenario

1. Entry at Support (7.50 - 7.60):

• Wait for the price to show reversal signs, such as reversal candles (e.g. hammer or bullish engulfing).

• Stop Loss: 7.30 (below support).

• Target 1: 8.43 (MA(7)).

• Target 2: 9.00.

2. Entry at MA(99) (6.50):

• If the correction continues, the 6.50 region will be an excellent long-term entry.

• Stop Loss: 6.20.

• Target: 8.00 and 11.00.

3. Entry at Breakout:

• If the price breaks 8.43 with volume, it may resume its rise.

• Entry: 8.50 (confirmation of the breakout).

• Stop Loss: 8.00.

• Target: 9.00 - 11.90.

Conclusion

The price of RENDER/USDT is in a correction zone, with the main support at 7.50 - 7.60. $RENDER $