Render — Bollinger Bands Indicate Reversal

Render Token has flashed a bullish Bollinger Bands signal on the 4H chart.

The signal is triggered when the price touches (or falls below) the lower Bollinger Band. Very often, this indicates a price reversal.

Based on the backtest, the signal has a success rate of 94% to achieve 2% gains and 67% to achieve 5% gains.

Therefore, since the signal is calculated at a profit potential of 8%, it might be wise to choose a lower target.