#RNDRUSDT Analysis: Narrow Range and Key Price Levels

26 jun 2023

💎 Over the past 7 days, #RNDRUSDT has been trading within a tight range, characterized by distinct supply and demand areas. The demand zone is particularly noteworthy, as it encompasses the 88.6% Fibonacci support level, which has demonstrated a double bounce recently. Additionally, the Volume Profile support has also acted as a significant level of buying interest, further reinforcing the importance of this price area. As diligent members of the Paradise Club, it is crucial for us to closely monitor this zone throughout the week.

💎 A break below the aforementioned demand zone would be a concerning development for #RNDR, as it would likely trigger sustained selling pressure. Therefore, it is imperative to be mindful of any bearish signals or price action that indicates a breach of this critical level.

💎 Conversely, we must also pay close attention to the current supply zone. Should the price successfully break above this zone, it would bode well for the short and medium-term outlook of #RNDRUSDT.

💎 Taking into account the multiple clean bounces off the support levels and the prevailing market conditions, the probability leans towards an eventual upside breakout. We anticipate that this breakout may materialize in the coming days.

💎 For now, it is prudent to exercise patience and adopt a wait-and-see approach. It is advisable to act only when we see confirmed breakout, whether to the upside or the downside. As the situation unfolds, we will keep you informed of any significant developments. Stay tuned for updates and be ready to seize potential opportunities when they arise.