$RENDER $RENDER

$RENDER /USDT Analysis:

Current Price: $4.91 (+13.27%)

Recent Price Range:

24h High: $5.051

24h Low: $4.317

Moving Averages:

MA(7): $4.603 (short-term support)

MA(25): $4.478 (medium-term support)

MA(99): $4.859 (resistance zone)

Key Levels:

Immediate Resistance: $5.051 (24-hour high and key resistance level)

Secondary Resistance: $5.210 (next resistance zone above the recent high)

Immediate Support: $4.603 (MA(7), short-term support level)

Secondary Support: $4.478 (MA(25), medium-term support)

Trade Setup for Short Position:

Short Entry Zone: Between $5.00 and $5.051, as the price approaches the 24-hour high and resistance level.

Stop Loss: $5.20, placed just above the secondary resistance level at $5.210 to allow for potential volatility.

Take Profit Targets:

Target 1: $4.603 (MA(7), where short-term support is likely to be tested)

Target 2: $4.478 (MA(25), a stronger support level to consider as a potential exit)

Summary:

The analysis suggests a shorting opportunity as the price approaches the 24-hour high and resistance levels. With a solid risk-to-reward ratio, you can enter short positions near $5.00 to $5.051, with a stop loss above $5.20. Take profit levels are suggested at $4.603 and $4.478, aligned with key support levels (MA(7) and MA(25)).#NovemberMarketAnalysis #USElections2024Countdown #ETHBTCNewLow #PensionCryptoShift #Write2Earn!