🚨 $RENDER /USDT ALERT ON THE 4-HOUR CHART 🚨
Overview:
RENDER/USDT has gained 24.71% over the past 24 hours, exhibiting strong upward momentum. The price is currently at 7.353, just below the recent high of 7.498. With this solid rally, RENDER is in a high volatility zone, and traders should watch for either continuation to higher levels or a potential pullback.
Current Price: 7.353
Entry Price for Long Position: Around 7.350 (considering retracement or confirmation of breakout above resistance)
💡 Critical Levels to Watch: 💡
Resistance Levels:
First Target: 7.498 – The immediate resistance and recent peak; breaking through could fuel further upside.
Second Target: 8.000 – A psychological level where profit-taking could occur, adding resistance.
Third Target: 8.500 – If momentum continues, this level could be a substantial rally point.
Support Levels:
Key Support: 6.624 – Immediate support level; breaking below might indicate the start of a deeper retracement.
Secondary Support: 6.000 – Further down, this could serve as a stabilizing zone if selling pressure intensifies.
Take-Profit Targets:
1. 7.498
2. 8.000
3. 8.500
Stop Loss Level: 6.624
⚠️ Cautionary Note:
RENDER/USDT is in a high-momentum phase, which could lead to rapid price changes. Traders should be prepared for volatility and closely watch the 7.498 resistance. A breakout could signal continued upside, but a failure to hold support at 6.624 may result in a pullback. Use caution, and practice effective risk management to navigate potential fluctuations in this trend.