RNDR/USDT - Possible Head & Shoulder Pattern?

We've spotted what appears to be a head and shoulders pattern forming, which is generally considered a bearish signal. The right shoulder is currently in formation, and we're closely watching this neckline. If the price breaks down through this neckline convincingly, it could confirm the pattern, suggesting a potential drop towards the major target zone highlighted in yellow.

It's key for us to observe the price behavior near this neckline. A bounce from here might delay the bearish forecast, but if we're seeing consistent lower highs forming on the right shoulder, then it shows us some downward movement. We're looking for a solid closure below the neckline to consider any bearish positions seriously.

But meanwhile, we shared a few possible setups that can happen on the RNDR coin in the next week or two.

Swallow Team

Kommentera:

RNDR struggles to reach that neckline zone, but the gameplay is still the same. It seems the Head form is just stretching out.