Render Token (RNDRUSD) is on the 3rd straight green 1D candle, having the best bullish sequence since June 21. The pattern remains a 3-month Channel Down but for the first time this is being executed from oversold 1D RSI levels as well as almost testing the 1W MA50 (red trend-line) for the first time since January 23.
The formation of a 1D Death Cross though, makes our sentiment mixed and prefer to take a confirmed buy signal instead. That will be above Resistance 1 (1.7685) and obviously the top (Lower Highs trend-line) of the Channel Down. Upon that break-out (1D candle closing above) we will buy and target 2.1600 (0.618 Fibonacci).
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The formation of a 1D Death Cross though, makes our sentiment mixed and prefer to take a confirmed buy signal instead. That will be above Resistance 1 (1.7685) and obviously the top (Lower Highs trend-line) of the Channel Down. Upon that break-out (1D candle closing above) we will buy and target 2.1600 (0.618 Fibonacci).
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** Please LIKE π, FOLLOW β , SHARE π and COMMENT β if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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