Render (RNDR) Price Analysis & Trade Setup
Render continues to show bullish momentum, following a completed five-wave move up according to Elliott Wave principles. After a corrective pullback (likely wave 2), RNDR is now rallying in a potential third wave.
Key Levels to Watch:
Support Zones:
Upper Support: $4.26 - $4.75
Deeper Support (if pullback deepens): $2.94 - $3.98
Resistance Targets:
First Resistance (38.2% extension): ~$5.20
Next Resistance (61.8% extension / likely target): ~$6.00
Trade Setup:
Entry Zone (Buy Area):
Around $4.30 - $4.50 on any healthy pullback.
Aggressive entries can consider $4.75 breakout retest.
Targets:
Target 1: $5.20
Target 2: $6.00
Stop Loss:
Below $4.26 for conservative setups (invalidates short-term upside).
Below $2.94 if you’re targeting the larger bullish structure.
Current Bias:
Both primary (white count) and alternate (yellow count) scenarios are bullish.
Focus remains on higher prices as long as $4.26 holds.
Watch for signs of wave two pullback to potentially reload.