RNDR/USDT – Double Bottom Formation Signals Reversal Potential

Render (RNDR) is currently forming a Double Bottom pattern, signaling a potential bullish reversal from recent lows. The pattern is validated if the price breaks above the Resistance Neckline at 4.200, confirming strength from buyers.

📌 Key Technical Levels:

Key Support: 3.235 – a critical level where price previously found buying interest.

Order Block (OB) Zone: 3.400 - 3.484 – potential demand area for renewed bullish momentum.

Strong Resistance Zone: 5.800 - 6.200 – historical selling pressure likely to be met if price continues upward.

A decisive break above the neckline could trigger a rally toward the Strong Resistance Zone, aligning with prior structural reactions. However, failure to sustain momentum might see retests of Key Support and the OB zone for liquidity gathering. Traders should monitor volume confirmation and price reaction at these critical levels.