Render (RNDR) Market Analysis – 4H Chart Outlook
Render has completed a 5-wave impulsive move from the April 7th low, suggesting a possible Wave 1 in a larger bullish structure. We are now likely in a Wave 2 corrective phase, which could offer strategic entry opportunities.
Current Status:
Price reached the target box at $4.85, possibly completing a B-Wave overshoot.
A correction is underway, likely part of Wave 2.
Key Support Zones (Buy Areas):
1. Micro Support (Potential Short-Term Entry):
Zone: $4.19 – $3.82
Fibonacci Levels: $4.19, $4.05, $3.96, $3.82
Strategy: Scale-in entries across this range. High risk/reward zone if bullish momentum returns.
2. Major Support (If Breakdown Continues):
Zone: $3.72 – $2.87
Golden Fibonacci Zone based on the full rally from April 7th
Crucial Support: $2.87 must hold to keep bullish count valid
Alternative Low Support: $2.33 (if deeper correction unfolds)
Buy Setup (White Count – Bullish Case):
Entry Range: $3.82 – $4.05 (safe) or $3.72 – $2.87 (aggressive)
Stop-Loss: Below $2.87 (to invalidate higher low scenario)
Target 1: $5.20 (previous high breakout)
Target 2: $6.85 (extension target if 3rd wave starts)
Target 3: $10.00+ (macro 3rd wave potential)
Bearish Scenario (Yellow Count):
If $2.87 breaks, expect a fall to $2.33 in an extended correction.
Conclusion:
Watch for a 3-wave pullback structure to complete. A bullish impulsive bounce from the support zone will confirm a Wave 2 bottom and the beginning of Wave 3. This setup is high-conviction only if price holds $2.87 and shows impulsive