🔥 $RENDER /USDT Technical Analysis 🔥

Current Market Overview:

Current Price: 5.027
USDT24h Change: -1.72%24h
High: 5.170 USDT24h
Low: 4.905 USDT24h Volume
(RENDER): 2,075,554.52
RENDER24h Volume (USDT): 10,431,608.89 USDT

📉 Chart Analysis:

The RENDER/USDT pair is showing signs of bearish momentum with the current price dropping below the key resistance level. The downward slope of the 7-day and 25-day moving averages indicates that the bears are holding control, though the price is currently hovering near a critical support level.

Moving Averages: MA(7): 5.024
USDTMA(25): 5.028 USDTMA(99): 5.170 USDT

🔍 Technical Indicators:

Amplitude: 0.12% - The low amplitude suggests reduced volatility, which could signal consolidation before a breakout.

RSI:

Trending towards oversold territory, which could indicate a potential reversal or further downside if breached. Volume: The recent sell-off volume suggests that traders are taking profits or cutting losses, adding to the bearish sentiment.

🎯 Price Targets:

First Target: 5.00 USDT - A short-term target where the price may test the psychological support level.

Second Target: 4.90 USDT - A mid-term target that could be reached if the bears maintain their dominance, breaking through minor support levels.

Third Target: 4.70 USDT - A long-term target if the bearish momentum accelerates, pushing the price down to a significant support level.

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