An interesting situation emerges on the RNDRUSDT chart
On the one hand, the chart shows a seemingly obvious Head and Shoulders pattern with a target of $1.10.
However, for this pattern to be activated, the RNDR price needs to consolidate below $1.90, or even better (for reliable development of the pattern, of course), it needs to fall to $1.50 and then fail to rise above $1.90.
On the other hand, something deep down tells us that there is absolutely nothing stopping trading bots from drawing a “standard book pattern”. So that during the formation of the pattern, without waiting for confirmation (which is very important), many shorts positions were taken.
And then, with upward momentum, and on the triggering of stop orders on the short position, the “rocket” called Render can start to take off.
And this rocket needs a lot of fuel, because there is a strong liquidity zone above the current price of RNDR, which will be difficult to break through.
In general, we have written our thoughts, drawn arrows on the chart, and now the question is for you, which RNDRUSDT price will be faster: $6 or $1?
Write your thoughts in the comments section.
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