$RENDER recently made a strong impulsive move up into the 2.70 supply zone, but price failed to hold there and has since started forming lower highs on the 1H timeframe. The rejection from the top was sharp, and the follow-through to the downside shows sellers stepping in on every bounce.
Price is currently hovering around 2.44, which is acting as a weak intraday support. However, the recovery attempts are shallow and volume is fading, suggesting this is more of a bearish consolidation rather than strong accumulation. As long as
$RENDER remains below the broken structure zone, upside looks limited in the short term.
From a scalp perspective, the risk-to-reward favors a short on pullback, not a long at current levels.
Trade Plan
Short Scalp
Entry Zone: 2.50 – 2.56
TP1: 2.38
TP2: 2.28
Stop Loss: 2.62
Leverage: 20x – 40x
Margin: 2% – 5%
Risk Management: Book partial at TP1 and trail stop toward entry
Important
This bearish setup stays valid as long as price remains below 2.62.
A strong reclaim and hold above 2.62 would invalidate this trend and shift bias.
Short
#render Here 👇