RNDRUSDT is testing the 2$ area
RNDRUSDT is approaching the dynamic daily resistance level situated around $2. This price level holds psychological significance for traders and investors.
In technical analysis, when a price approaches a resistance level, market participants closely observe the behavior to determine if a breakout is imminent. Should the price of RNDRUSDT successfully surpass the $2 resistance level and establish it as a new support level, it would indicate a significant shift in market sentiment.
According to Plancton's Rules, if the price of RNDRUSDT convincingly breaks above the $2 resistance level and successfully retests it as a new support level, it may present a favorable opportunity for long positions. This means traders would potentially consider entering new long positions, expecting further upward movement in the price.
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Follow the Shrimp 🦐
Keep in mind.
In technical analysis, when a price approaches a resistance level, market participants closely observe the behavior to determine if a breakout is imminent. Should the price of RNDRUSDT successfully surpass the $2 resistance level and establish it as a new support level, it would indicate a significant shift in market sentiment.
According to Plancton's Rules, if the price of RNDRUSDT convincingly breaks above the $2 resistance level and successfully retests it as a new support level, it may present a favorable opportunity for long positions. This means traders would potentially consider entering new long positions, expecting further upward movement in the price.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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