Price action just bounced off the demand zone near $3.35 while still trapped in a descending channel. That move adds a pulse of optimism—but only if local resistance breaks. A push through opens the door to the channel’s upper boundary, where liquidity gathers near $4.71.
StochRSI is climbing from oversold levels. That adds credibility to a near-term bounce—but again, the channel’s ceiling stands in the way. If price falters here, RNDR could sweep back down to test that same $3.35 floor, which is now a test of conviction more than support.
Few setups serve caution and potential in a tight package. This one does. Watch that resistance zone closely. If it breaks, there’s room for follow-through. If it fails, the downside remains firmly on the table.
RNDR’s next move depends on whether it can pierce channel resistance—or if its bounce ends in another retest of the demand floor.
