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$RENDER is screaming with extended overextension at these levels 🔴
Entry: 1.531 🔥
Target: 1.5225 🚀
Stop Loss: 1.548 ⚠️
RSI tired at 36.4 — this is literally an overextended condition on the 1H timeframe. The price is also trading below EMA20, confirming the short-term bearish momentum I have been monitoring since last week. Volume is fading during the bounce, and this tells me that sellers are still in control.
With a tight stop loss above 1.548 and a clean 1:2 risk-to-reward on the first target, this scenario aligns with my 80% conviction of a bearish move on the larger timeframes. Do you notice that $RENDER could decline further from here?
Not financial advice. Always manage your risk.
#RENDER #ShortSetup #Bearish #Crypto #Alts