Render

when

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/continued-interest-in-render-coin-drives-market-dynamics/" data-wpel-link="internal">Continued Interest in Render Coin Drives Market Dynamics</a> 
Render’s <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> is currently close to confirming its rising trend model. Altcoin <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> have higher confidence, which could continue the rise. However, RNDR is very close to seeing the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> peak, and investors wanting to buy at this level continue to monitor the process. Due to increased participation among investors, altcoin gives a strong buy signal while Render’s price could see further rise. 
<h2 class="p1" style="text-align: justify" id="ongoing-interest-in-render">Ongoing Interest in Render</h2> 
On the Render front, both price and daily active addresses are currently rising, creating bullish conditions for the asset. The cryptocurrency tends to be ideal for accumulation, which supports price increases. If this result occurs for RNDR, the altcoin price could rise to $11 and beyond. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348856 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/rndr.webp" alt="" width="1536" height="520"> 
Although currently about 90% of the supply consists of profit, there is still room for growth in Render’s price. Generally, when about 95% of an asset’s supply becomes profitable, a market peak occurs. This market peak is followed by corrections, which cool down the market. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348855 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/rndr-suplly.webp" alt="" width="1536" height="520"> 
Thus, RNDR could continue its rise in the coming days, and during this time a bullish double bottom formation could be confirmed. However, after this, the altcoin will be vulnerable to corrections, making it an important level to watch. 
<h3 class="p1" style="text-align: justify" id="what-s-happening-on-the-render-front">What’s Happening on the Render Front?</h3> 
Render’s price has recorded an 8.5% increase in the last 24 hours and is currently at $10.8. The cryptocurrency is close to confirming a double bottom formation, also known as the W model. The double top formation is a downward <a href="https://en.coin-turk.com/deciphering-market-trends-insights-on-bitcoin-sp-500-and-us-dollar-index/" data-wpel-link="internal">technical analysis</a> formation characterized by two consecutive peaks at approximately the same level, and a potential trend reversal from an uptrend to a downtrend occurs when the price falls below the neckline support level. 
RNDR not only surpassed the neckline but is also close to reaching the 20% rally target set by the model. When the altcoin passes the $11.2 resistance, the formation will be confirmed. If the rise continues thereafter, Render’s price could climb to $11.5 and above. However, if a market peak forms thereafter and investors start selling for profit, further rises could fail. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-348854 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/rndr-grafik.webp" alt="" width="1805" height="771"> 
On the other hand, if RNDR fails to even reach the $11.2 target and corrects first due to potential selling, the altcoin will drop to $9.2. This development will invalidate the bullish thesis and leave Render vulnerable to a drop below $9. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/continued-interest-in-render-coin-drives-market-dynamics/" data-wpel-link="internal">Continued Interest in Render Coin Drives Market Dynamics</a></h5>

Continued Interest in Render Coin Drives Market Dynamics

Table of Contents

COINTURK NEWS

Other articles published on May 7, 2024

Bitcoin Wallet Maker Exodus is Listing a Tokenized Stock on the New York Stock Exchange

Ethereum ETF approval hangs in the balance as SEC deadline looms

How to Generate a Passive Income with AI While You Travel the World

Ethereum Remains The ‘Basket Case’ This Bull Cycle, ETH Price To Continue?

Robinhood Faces SEC Wells Notice: Impact on Crypto Trading and Bitcoin (BTC)

Insights on Cryptocurrency Market Trends and Predictions

Join our free newsletter for daily crypto updates!