RENDER Technical Analysis Jan 24

Today’s short-term outlook and key levels to watch

Short-Term Market Outlook

RENDER is trading at the 2.01$ level intraday and has declined by -4.01% over the last 24 hours. Today’s range was 1.99$ – 2.11$, with volume remaining at a moderate 36.72 million$. The short-term outlook is dominated by sideways movement, with price positioned below EMA20 (2.03$), giving a bearish signal. RSI at 46.62 is in the neutral zone, while the MACD histogram turning positive hints at bullish momentum, though Supertrend’s bearish signal points to 2.20$ resistance. 12 strong levels detected across 1D/3D/1W timeframes: 1D with 1 support/3 resistance, 3D with 2S/2R, 1W with 4S/2R distribution. Short-term targets look like 2.3910$ upside, 1.5369$ downside, but for the next 24-48 hours, narrow ranges are our focus. News flow is calm, highlighting the prominence of technical levels. High-risk day for active traders, capital management is critical.

Intraday Critical Levels

Nearby Support Zones

The most critical nearby support is at 1.9663$ (score: 84/100), close to today’s low range and forming a strong base. Downward movement remains limited without breaking this level; quick invalidation on a candle close below 1.95$. Lower 1D/1W supports provide backing, but for intraday scalping, 1.9663$ is the main watch point. If this zone is tested with volume increase, a short-term buying opportunity may arise, but BTC correlation should be considered.

Nearby Resistance Zones

Immediately above price, 2.0339$ (score:66/100) is the tightest resistance, aligned with EMA20. Breaking this targets 2.0751$ (score:61/100) and 2.1409$ (score:61/100). Despite Supertrend showing 2.20$, these narrow levels are critical for intraday momentum. Invalidation: Bullish confirmation on 15min candle close above 2.0339$. These zones can act as scalp areas for the next 24 hours.

Momentum and Speed Analysis

Short-term momentum is mixed: RSI neutral (46.62) keeps overbought/oversold risk low, but MACD’s positive histogram shows hidden bullish momentum. Supertrend’s bearish signal indicates low speed, with price consolidating at 2.01$. Volume at 36M$ is insufficient; 50M$+ volume expected for breakout. Watch EMA crossovers on 4H chart; RSI above 50 critical for upside speed, below 40 for downside. Intraday scalpers should track momentum shifts via RSI divergence. Overall speed is low, sideways moves limited to 1-2% range, but volatility could spike suddenly.

Short-Term Scenarios

Upside Scenario

Bullish scenario: 2.0339$ resistance breaks, accelerating toward 2.0751$ (target 2.1409$). Trigger: BTC holds above 89.621$ with volume increase. Invalidation: Close below 1.9663$. In this scenario, 5-7% upside potential for 24-48 hour swing buys possible, but wait for EMA20 reclaim confirmation. High risk: False breakout risk present.

Downside Scenario

Bearish scenario: Break of 1.9663$ support leads to drop toward 1.90$ levels (target 1.5369$). Trigger: BTC slips below 88.870$. Invalidation: Close above 2.0339$. Scalpers can hunt short opportunities here, 4-6% downside. Supertrend bearish alignment supports, but MACD divergence carries high quick rebound risk. Risk management: Keep stop-loss tight.

Bitcoin Correlation

RENDER has high correlation with BTC (%0.85+); with BTC sideways at 89.416$, caution is warranted for altcoins. BTC supports at 88.870$, 87.635$, 86.420$; if held, RENDER can stay stable around 2.00$. BTC resistance at 89.621$, 90.751$; breakout triggers RENDER upside. BTC Supertrend bearish – caution for altcoins, rising dominance pressures RENDER. Key watch: BTC break below 88.870$ challenges RENDER 1.9663$.

Daily Summary and Watch Points

Today’s focus: 1.9663$ support and 2.0339$ resistance. Expect narrow sideways movement; confirm breakouts with volume. Follow RENDER Spot Analysis and RENDER Futures Analysis. Risk warning: Short-term trades carry high volatility; risk 1-2% of capital, use stop-loss. MTF supports strong, watch for sudden news. Key points: 2.0339$ break (bull), 1.9663$ loss (bear), BTC 89k movement.