RENDER IS PREPARING FOR A MASSIVE BREAKOUT!!! GET READY! $RENDER PRICE PREDICTION 2024!

Summary

In this video, the speaker discusses Render (RNDR) cryptocurrency's potential for a major breakout. After consolidating in a descending channel, RNDR is nearing a critical resistance point that could drive its price toward $21. The speaker highlights the importance of watching the next few days closely to see if Render can break through this resistance, which could lead to significant price gains. Additionally, the speaker invites viewers to join their Patreon for further insights and offers a trading platform promotion with bonuses for new users.

Takeaways

• 😀 Render price is poised for a potential breakout, which could happen very soon.
• 😀 The video discusses what to expect next in terms of price movements for Render (RNDR).
• 😀 There is a promotional offer for trading crypto with up to 500x leverage, though the presenter advises caution with high leverage.
• 😀 A 10% deposit bonus is available for users who deposit over $500 on the platform being promoted.
• 😀 Render's price reached a new all-time high earlier this year after breaking a key resistance level.
• 😀 After reaching this high, Render's price entered a descending channel, suggesting consolidation or accumulation.
• 😀 The key point of focus is whether Render's price will break above its current resistance and continue an upward trajectory.
• 😀 The price target for Render remains $21, with the breakout potentially pushing it higher in the near future.
• 😀 Traders should watch for a successful backtest of the previous resistance turning into support, which could lead to a breakout.
• 😀 The breakout could result in a 2x or 3x increase in price if successful, signaling significant potential gains.
• 😀 The presenter is currently not making any trades but is watching the market closely to see if Render will break out.

Q & A

What is the main topic of this video?

The video discusses the potential for a breakout in the price of Render, a cryptocurrency, and provides an analysis of its recent price movements and resistance levels.

What recent trend has Render’s price been following?

Render's price has been consolidating in a descending channel over the past year, which the speaker believes to be an accumulation phase before a potential breakout.

What price levels is the speaker watching for Render?

The speaker is watching Render’s price to break through a key resistance level in the $6.72 range. A successful breakout could lead to a rise towards $10, $11, or $12, with a longer-term target of $21.

What is the significance of the Fibonacci levels mentioned in the script?

The speaker refers to Fibonacci levels between 618 and 786 as key resistance areas. Render was rejected twice at these levels before breaking through and turning them into support, which is important for the potential breakout.

Why is the speaker not currently taking any trades?

The speaker is waiting to see if Render’s price will break out of its current resistance level. They are closely monitoring the situation and are not engaging in buying, selling, or shorting at this time.

What is the importance of the next 24 to 48 hours for Render’s price movement?

The next 24 to 48 hours are critical because the speaker believes Render’s price could either confirm a breakout or fail, which will dictate the price movement in the coming weeks or months.

What could happen if Render’s price fails to break above the resistance?

If Render’s price falls below $6.72, it might need to find a stronger support level before pushing higher again. This would delay any potential breakout.

What promotional offer is being discussed in the video?

The speaker promotes a BTCC trading platform offer, where users can receive a 10% deposit bonus on deposits over $500, along with up to $110,000 in bonuses and credits, plus a code for 40% lower trading fees.

How does the speaker suggest viewers can learn more about cryptocurrency trading?

The speaker invites viewers to join their Patreon community for exclusive content, including daily technical analysis reports, fundamental analysis, and educational resources on crypto trading.

What are the speaker’s price expectations for Render in the long term?

The speaker believes Render could reach a price of $21 in the future, which remains their price target if the breakout scenario plays out as expected.