Traders seeking new market opportunities may want to consider the Render cryptocurrency.

Although it has been in a correction phase since August, a specific scenario presents a favorable buying opportunity with an attractive risk-to-reward ratio. If this scenario materializes, it could signal the right moment to enter the market.

Daily time frame analysis

RNDRUSD - 1 Day Time Frame

From a technical analysis perspective, Render’s current situation is mixed. While the broader market structure indicates a bearish trend, internal indicators show bullish signals.

A critical factor supporting potential buy orders is the presence of an Order Block, which has been price-tested multiple times without sparking an impulsive reaction.

If the price begins to rise in the coming days, it is essential for traders to avoid premature entries. Within the internal bullish market structure, the price formed a resistance level in early October, which must be convincingly broken before considering buy positions.

When to buy Render?

Should the buy signal be confirmed, it’s crucial for traders to set a Stop Loss order to manage risk. While the exact placement for the Stop Loss is uncertain at this point, the general rule is that it should be set below the internal low that occurred before the price broke above the resistance.

As for trade objectives, multiple profit-taking opportunities exist. One key goal is when the price reaches the Buy-Side Liquidity level, at which point traders can consider withdrawing partial profits.

By closely monitoring these parameters, traders can maximize the potential of this trade while minimizing risk.