Render Network - Set to Surge from Next Month OnwardCurrent Price and Market Context
Current Price: ~$3.04 USDT with a 24-hour trading volume of ~$55.4M).
Recent Performance:
Down -21.97% over the past week.
Down -30.62% over the past month.
Down -58.58% over the past year.
All-Time High: $13.6330 USDT on March 17, 2024.
All-Time Low: $0.274 USDT on June 18, 2022.
Market Sentiment: Technical analysis from TradingView indicates a strong sell signal on daily and weekly timeframes, with a bearish outlook on monthly charts.
#Support Levels
Support levels are price zones where buying interest has historically prevented further declines, often identified by chart patterns, Fibonacci retracements, or high-volume areas.
$3.50–$1.80 (Key Support Zone):
This zone has been a strong demand area, with multiple bounces observed (e.g., double bottom formation).
A daily close below $1.50 could invalidate this support, targeting lower levels still we are in buying zone even if we breal 1.5
This level aligns with historical accumulation zones and increased volume, indicating strong buying interest.
Resistance Levels
Resistance levels are price zones where selling pressure has historically capped upward moves, often aligned with Fibonacci retracements, psychological levels, or prior highs.
$4.20–$4.245 (Immediate Resistance):
Acts as the middle line of a descending channel on shorter timeframes (e.g., 1-hour, 4-hour charts).
Recent rebounds from $4.20 suggest selling pressure at this level.
$5.00–$5.64 (Major Resistance):
A key psychological and technical barrier, with $5.00 noted as a near-term target in bullish scenarios.
Aligned with the green resistance zone ($5.747–$6.038) on TradingView, requiring high volume to break.
Take-profit targets for long positions are often set around $5.64.
For Support and resistance refer the chart for ur analysis
Trend - Will bullish in the next 1 or 2 3 weeks
-- Disclaimer --
This analysis is based on recent technical data and market sentiment from web sources. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
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