The Trust Layer for Market Analysts

The analyst discusses the RNDR/USDT pair on a 4-hour timeframe, noting a correction phase that started around October 14th. The analysis points out that, disregarding the flash crash wick in October, the price action appears as if the wick never occurred, aligning with a trendline resistance. Selling pressure initiated around $3.35. The current decline is structured in an ABC pattern downwards. It's unclear whether it’s a wave two formation. A reliable structure is lacking, but to confirm a low, the price must break the yellow trendline. A better signal is a break above $2.38. The most reliable breakout would be above $3.36. The current bounce is a three-wave move, offering no confirmation of a low formation.