RNDR Trade Setup – Double Bottom & Support Reclaim

$RENDER | Potential Bullish Reversal in Play

Render (RNDR) has displayed strong resilience, carving out a double bottom pattern while reclaiming the crucial $4.00 support level. This signals a potential shift in momentum, and we’re now eyeing a liquidity sweep below $4.00 (wick into lower levels) followed by a daily close back above $4.00—this would confirm a high-probability long opportunity.

Key Levels & Trade Plan

🎯 Entry Zone: $3.50 – $4.00 (Ideal dip for optimal risk-reward)*

✅ Confirmation: Daily close holding above $4.00 after a sweep.

🔥 Take-Profit Targets:

🥇 TP1: $5.64 (Initial resistance)

🥈 TP2: $6.70 (Next major breakout zone)

❌ Stop Loss: Daily close below $3.00 (Invalidates the setup)

Why This Works?

- Double Bottom: Classic reversal pattern signaling buyer accumulation.

- Support Reclaim: $4.00 acts as a psychological & historical support.

- Liquidity Sweep: A dip below $4.00 (wick) could trap shorts before reversal.

Trade smart & manage risk! 🚀