RNDR close to a serious resistance

2023年5月22日

IMPORTANT: this is a short signal but on HTF which means I'm giving the area in which I'd look for a short but doesn't mean I'm telling you to short as soon as price goes there, this is a WEEKLY chart.

RNDR pumped a lot lately but I think the top of this run is almost in. I expect price to reach that DAILY resistance area with weekly RSI being low and then retrace between 30 and 45%. Volume keeps lowering as confirmation of my idea.

Considering the coin is relatively young and the amount of volume since last January, it's clear that best price opportunity to fill your bags and hold is gone. Most bearish scenario would be around 0.822
USDT
but it's likely it won't go below 1.64 unless BTC dumps hard. I still believe we should see BTC dumping because I think that world economy should reflects also on crypto a bit further but I might be wrong.

I'll set an alert for then price reaches the resistance area so that I'll be able to update the signal with a short setup if it's the case.

Good luck