Insights Analysis Render Coin is Set to Grow in March

Render Coin is Set to Grow in March

February 21, 2024 Analysis
BITmarkets | Render Coin is Set to Grow in March

Render Coin has recently enjoyed tremendous growth, nearly doubling in during the past month. Our technical readings suggest that RNDR is set for greater gains.

RNDRUSD - 4 Hour Time Frame

In the 4-hour time frame, the price is positioned within the Order Block area, suggesting a possibility for the price to continue its ascent with minimal correction.

However, should the price fail to capitalize on this opportunity, a correction could ensue, potentially aiming for the two nearest liquidity levels (Sell-side Liquidity).

These levels are situated beneath higher lows, with the lower level also aligning with the Buy-side Imbalance and Sell-side Inefficiency zone, as indicated by the blue rectangle on the chart.

Should such a correction take place, the future trajectory of the price will be crucial. Absence of indications for a reversal to a bullish trend would render buy positions invalid.


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