RENDER Technical Analysis Feb 10

RENDER is maintaining its LH/LL structure under general pressure in altcoin markets; critical support around $1.33 is being tested, but a BOS above $1.3840 could signal a trend change.

Market Structure Overview

RENDER’s current market structure indicates a clear downtrend. The price is exhibiting a bearish structure characterized by lower highs (LH) and lower lows (LL) in recent periods. The current price is at the $1.33 level with a 24-hour change of -3.13%. This structure is trading below EMA20 ($1.59), giving a short-term bearish signal. The Supertrend indicator is also in a bearish position and highlights the $1.86 resistance. In multi-timeframe (MTF) analysis, a total of 12 strong levels were identified across 1D, 3D, and 1W charts: 2 supports/3 resistances on 1D, 2 supports/1 resistance on 3D, 1 support/3 resistances on 1W predominantly. RSI at 35.05 is approaching the oversold region while MACD shows a negative histogram, but momentum is still insufficient for reversal. There are no significant developments in the news flow, so the technical structure takes precedence.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

For an uptrend, a higher highs (HH) and higher lows (HL) structure is required. This is absent at the moment; the last swing low at $1.3308 (strength score 77/100) is being tested, and if held, an HL could form. A potential bullish BOS could come with a break above the $1.3840 swing high, opening the path to EMA20 ($1.59). In MTF, the 1W timeframe has a bullish continuation target at $2.5559 (score 25), but it’s weak due to BTC correlation. Divergence on RSI should be monitored; a turn upward from 35 could add momentum.

Downtrend Risk

The downtrend is dominant: LH/LL pattern is clear, with the last LH at $1.3840 and LL around $1.3308. If $1.3308 breaks, the new LL targets $1.1230 (score 76/100), with bearish breakdown to $0.2115 (score 21). MACD is bearish and Supertrend resistance at $1.86 is strong. BTC downtrend in altcoins increases risk; rising dominance could keep RENDER under pressure.

Structure Break (BOS) Levels

BOS (Break of Structure) confirms trend changes. For bullish BOS to invalidate the bearish structure: close above $1.3840 and extension to $1.5532 is required (score 65/100). This would be a CHoCH (Change of Character) signal and initiate HL structure. Conversely, bearish BOS: break below $1.3308 opens the path to $1.1230 and deepens LLs. Upper resistances at $2.2496 (score 62/100) and $1.86 Supertrend are critical; upside remains speculative without breaking them. In MTF, 1D resistance weight (3R) supports bearish BOS. Watch: Daily closes are key for BOS confirmation.

Swing Points and Their Importance

Recent Swing Highs

The last swing high at $1.3840 (score 67/100) is a nearby resistance and LH level. A break brings bullish BOS, staying below confirms LH. The next one up at $1.5532 is medium-term resistance; breaking it targets $2.2496 major. These points are pivots defining market structure; volume increase on tests gives reversal clues.

Recent Swing Lows

The last swing low at $1.3308 (score 77/100) is critical support just below the current price. If held, HL potential; if broken, $1.1230 (score 76/100) becomes new LL. These levels are structural supports; RSI oversold suggests bounce potential, but fragile due to BTC influence.

Bitcoin Correlation

BTC at $69,342 in downtrend (-2.44% change), Supertrend bearish. Main supports at $68,341 / $62,910, resistances at $70,936 / $77,356. BTC decline crushes altcoins; RENDER is highly correlated with BTC, and a break below $68k on BTC accelerates the $1.1230 bearish target. BTC recovery above $70k could trigger $1.3840 BOS on RENDER. With bearish BTC dominance signal, caution for alts: RENDER structure is BTC-dependent, watch $68k BTC support.

Structural Outlook and Expectations

Overall outlook is bearish LH/LL, holding $1.3308 required for reversal. Bullish scenario: $1.3840 BOS + BTC recovery = $1.55+ target. Bearish: $1.33 break = $1.12 test. Wait for CHoCH, no hasty trades. Details in RENDER Spot Analysis and RENDER Futures Analysis. Structure is dynamic, follow MTF levels.