Catch the Wave: RNDR/USDT Analysis & Potential $50 Target

Catch the Wave: RNDR/USDT Analysis & Potential $50 Target

Elliott Wave Count Insight
CRYPTOCAP:RNDR is currently showing signs of forming an Elliott Wave pattern, suggesting a potential correction in the near future. Our analysis indicates that there might be further correction ahead.

Previous Analysis Recap
In our last analysis when #RNDR was around $10, we accurately predicted a 4th wave correction, which has since been fulfilled.

Current Scenario and Entry Opportunities
There's a strong support level anticipated at $5-$6, representing the 0.382 Fibonacci retracement. This suggests a potential bounce for the 4th wave from this support zone, presenting favorable entry opportunities.

Price Target Projection
Should our wave count analysis hold, we anticipate RNDR's price to potentially reach $50 in this bullish cycle.

Alternative Scenario
In case RNDR fails to maintain the 0.382 Fibonacci level, we recommend considering entry points around $2.5-$3.5.

Remember, trading involves risks. Always conduct your own research and consider your risk tolerance before making any investment decisions.