RNDRUSDT moving up nicely and targeting daily resistance

May 10, 2023

If long from the bottom of the support zone as suggested in the last post and several updates, reducing some size at 1.857 will not be a bad idea. I believe there will be an opportunity to add the size a bit lower from there. Anyways the swing trade to daily resistance remains valid. However, such reducing and increasing the size allows to benefit from the lower time frame movements.

May 10, 2023

Note

So as suggested, the price has retraced around 1.5% from the level suggested to reduce the size. I think it will go further down a bit. I might add some around 1.816-1.826.

May 11, 2023

Note

So the price actually did not move up and went against our expectation. Its down from weekly support and I think on weekly basis this support will still be held. The price may trade below for some time as the weekly candle close is still a few days away. For the long side day trade, I see 1.627 level as one to long for a few percent gain. Lets watch how it the price trades below that level but I expect that to be short lived and expect the price to claim that support soon.

May 11, 2023

Note

The price bounce almost 3% from the suggested level 1.628 and I believe this level could hold for now and we can see some more upside.