【$RENDER Signal】Long | Breakout and Retest Confirmation

$RENDER After breaking out on the 4H timeframe, a healthy retest was completed. The current price is supported around 1.37, forming a potential bullish structure.

🎯Direction: Long

🎯Entry: 1.365 - 1.372

🛑Stop Loss: 1.332 (Rigid Stop Loss)

🚀Target 1: 1.398

🚀Target 2: 1.425

Market Logic: After reaching the high of 1.398, the price retraced, but the 4H candlestick shows limited selling pressure (buy/sell ratio remains balanced around 0.5). The retracement low of 1.332 was not effectively broken. Open interest remains stable (OI Trend: Stable) rather than decreasing, ruling out major distribution. Currently, Taker Volume is dominated by buyers, combined with negative funding rates, indicating that shorts are still paying costs. The market structure favors the bulls. The price consolidates above the previous breakout zone (1.35-1.37), which is a healthy reset after a breakout, setting the stage for the next upward move.

Trade here 👇 $RENDER

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