RENDER (Weekly) — basing at support, watching for a relief leg toward 7–8

[theSignalyst]

RENDER is still travelling inside a broad descending channel, but price has just defended the higher-timeframe support band between $2.00 and $3.00. As long as weekly closes keep holding above this zone, I expect the market to carve out a base and attempt a relief leg toward the mid-range and the falling channel line, which aligns with $7.00, and—if momentum extends—the next ceiling near $8.00.

A weekly breakout and close above the red descending trendline would be the first structural signal that the larger downtrend is ending and that a trend reversal is underway. Conversely, a decisive weekly close below $2.00 would invalidate the basing attempt and reopen downside toward prior liquidity pockets. Until either level gives way, I’m treating this as a range-to-channel play from support toward resistance.

All Strategies Are Good; If Managed Properly! ~Richard Nasr