Is #RENDER still in a downtrend?
2024-08-27

#Render 1D chart;

Continues the downtrend that started in March with lower highs

It was last downtrending at $6.3 (CHoCH)

A close above the $7.2 level is required before we can talk about a rebound

Otherwise, the levels where it can go by making lower highs;

First OB support at $3.7
If it loses here, the IMB level will be $2.8.

Of course, although its first priority in every upward move is to overcome the previous low peak, it should not be forgotten that the downward trend line (red line) will also act as resistance.
