RENDER Testing $1.33 Support — BOS Above $1.3840 Needed to Reverse Downtrend
RENDER (RNDR) remains in a clear downtrend with a lower-high/lower-low structure. Price is trading near critical support at $1.3308–$1.33; a decisive break below targets $1.1230 and deeper bearish levels. For a trend reversal, analysts want a bullish Break of Structure (BOS) with a daily close above $1.3840, which would open the path to the EMA20 at ~$1.59 and resistance at $1.5532. Technicals: RSI ~35–37 (approaching oversold), MACD histogram negative, Supertrend bearish with resistance near $1.86. Bitcoin correlation is high — BTC weakness (around $69k) increases downside risk for RENDER, while BTC recovery above $70k could support a bullish BOS. Traders should watch daily closes at $1.3840 (bullish confirmation) and $1.3308 (bearish confirmation). Short-term outlook: bearish until BOS/CHoCH confirmed; preferred approach is to wait for confirmation rather than entering aggressive longs. Key levels — Support: $1.3308, $1.1230; Resistance/BOS: $1.3840, $1.5532, $1.86 (Supertrend).
Bearish
The analysis shows a dominant LH/LL downtrend for RENDER with price below EMA20, a bearish Supertrend, negative MACD histogram and RSI near oversold — a combination that favors continued downside until a clear bullish BOS occurs. Critical support at $1.3308 is being tested; a break would target $1.1230 and reinforce the downtrend. Upside requires a daily close above $1.3840 to form a CHoCH and invite momentum toward $1.59–$1.55 resistance levels. High correlation with Bitcoin increases risk: past periods where BTC weakened produced sharper altcoin drawdowns, while BTC recoveries have allowed altcoins to reclaim structure. For traders this implies higher probability of short-term continuation lower, lower confidence for aggressive longs, and an event-driven trade plan — long only after confirmed BOS/CHoCH or on strong BTC-led market recovery. Monitor daily closes, volume on breaks, RSI divergence and BTC price action for confirmation.