$RENDER

🧊 RENDER/USDT – Channel Resistance Short Opportunity

🕐 Timeframe: 1H

💰 Current Price: $5.061

📊 Trend Context: Trading near the upper resistance of a clearly defined ascending channel, potential rejection zone for a short setup.

🟥 Entry Plan (Short):

📌 Entry Zone:

$5.05 – $5.20

Ideal if rejection is confirmed with wicks or bearish engulfing candle

🎯 Take-Profit Targets:

🎯 TP1: $4.75

🎯 TP2: $4.50

🎯 TP3: $4.30

🛡️ Stop-Loss:

🔻 SL: $5.30 (above channel resistance to protect against breakout)

⚖️ Risk-Reward Tip:

Entry: $5.10 | SL: $5.30

TP2: $4.50 → Risk:Reward ≈ 3:1

🔐 Consider trailing stop after TP1 for extended move

✅ Confirmation Triggers:

🔸 Bearish 1H or 15m candle at resistance

🔸 Failing to close above $5.20

🔸 BTC weakness or downward momentum

🔥 Signal Strength:

Medium